Ripple (XRP) Market Sentiment Turns Bearish

In recent days, Ripple (XRP) has experienced more negative than positive comments on social platforms. Data from a market intelligence platform shows that the bullish-to-bearish ratio dropped to 0.86 on October 6 and even lower to 0.74 on October 4. This indicates a strong sense of fear among traders.

When market sentiment shows bearish tendencies, this is often a signal for investors to consider buying. History has shown that when fear is at its peak, it is often the right time to enter the market.

Whale Ripple (XRP) Activity Increases

Despite a lot of negative talk, the whales continue to accumulate large amounts of Ripple (XRP). Data shows that in the last week, addresses holding between 10 million and 100 million Ripple (XRP) have added nearly 120 million tokens, with a total value of around $340 million.

This increases their control to 8% of the total supply. This accumulation activity by whales indicates a growing interest in Ripple (XRP), even though the general sentiment in the market may not be favorable. This is often an early indicator that there could be significant price movements in the near future.

Ripple (XRP) Price Towards $3.60

Ripple (XRP) has been trading between $2.97 and $3.05 over the past 24 hours, holding above the crucial $2.80-$2.90 support zone. A leading crypto chart analyst notes that the token is now approaching a key level near $3.15, which could determine whether Ripple (XRP) will continue its rise or experience a pullback.

If Ripple (XRP) manages to cross $3.15, this could be a catalyst to push the price towards $3.60. The key support to maintain for this bullish scenario is the $2.80-$2.90 zone.

Conclusion

By understanding the current market dynamics and observing whale activity and market sentiment, investors can be better prepared to make investment decisions. Ripple (XRP) is showing some interesting signals that could be an opportunity for those looking for entry points into the crypto market.