The post On-Chain Data Hints Bullish Reversal For Top Altcoins! Here’s What is Store For BTC, XRP & BNB This Week appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Santiment, a popular on-chain data provider, tweeted that trader mood is improving for three of the top ten digital currencies: Bitcoin, BNB, and XRP. However, according to the research, trading sentiment for Polkadot (DOT) has deteriorated even worse.
XRP, BNB, BTC Price are Expected to Rise
Sentiment that has been weighed as of late, trader sentiment for Bitcoin and coins associated with Ripple and the Binance exchange has been climbing above all other cryptocurrencies on the market, according to the comparison statistic. However, data reveals that Polkadot (DOT) sentiment is “more negative than usual.”
Santiment announced a month ago that XRP was facing a major whale buildup – the second largest in five years. XRP addresses with more than 10 million coins were stocking up on XRP at the time, according to the analytics firm.
XRP, BNB, Bitcoin price behavior in 2022
All three coins have been in decline since the beginning of the year. Bitcoin began to fall from around $47,700, reaching a low of $33,495 on January 24. According to CoinMarketCap, the flagship cryptocurrency is changing hands at $39,076 after reaching $44,000 a few times in the first quarter of 2022. This is down 43.17 percent from BTC’s all-time high of $68,789 set on November 10.
Binance Coin (BNB) was trading at $531.6 on January 3. On the 24th of February, the lowest level of the year was reached: $331.12 per coin. The asset is currently trading at $373.64, down $45.89 percent from it’s all-time high of $690.93 reached on May 10 of last year.
On January 2, XRP opened the year at $0.8617. The coin has since dropped to a low of $0.565 on January 24. On the 8th of February, the sixth largest cryptocurrency reached a high of $0.925. The SEC’s ongoing legal action against Ripple Labs and two of its executives, Brad Garlinghouse and Chris Larsen, keeps the coin from achieving new highs.