XRP and ETH Traders Turn Bullish as FOMO Hits 5-Week High: Santiment

Bitcoin’s more balanced sentiment contrasts with the growing enthusiasm surrounding Ethereum and XRP.

ETH and XRP traders have become noticeably more optimistic, with market intelligence firm Santiment reporting the highest fear of missing out (FOMO) levels for both assets in the past five weeks.

The change in tone has come even as prices struggle to generate sustained momentum, raising the possibility that bullish sentiment may be outpacing market performance.

XRP leads sentiment surge as BTC stays balanced

According to a report dated July 13 mail According to Santiment, XRP’s bull-to-bear ratio stood at 3.02, meaning there were more than three positive posts online for every negative one. Ethereum wasn’t far behind at 2.31, putting it in what the analytics platform described as “light FOMO territory.” As for Bitcoin (BTC), it recorded a much lower 1.40, suggesting that traders were relatively neutral on the matter.

Both BTC and ETH opened relatively strong on Monday, but faded as the day progressed, with Santiment noting that crowds tend to make noise at the wrong time.

“Cryptocurrencies typically move in the opposite direction to what people expect,” the company wrote. “When traders become too bullish on XRP or ETH while prices are already falling, it can create short-term downside risk or at least slow the rebound.”

However, he argued that Bitcoin’s flatter reading may give it more room for a rally as the crowd has not yet fully accepted the “higher prices ahead” trade. This assessment was shared by trader Xaif Crypto, who also argument that BTC’s calmer sentiment “means more room to run,” while increased optimism around XRP and ETH could limit its immediate recovery.

Looking at the price actions of the three assets, XRP had fallen below $1.08, a resistance level. highlighted by analyst Cryptorphic, and was trading around $1.07 at the time of writing, a drop of about 5% over the last seven days and almost 7% over the last month. According to the analyst, the token is quite vulnerable as long as it trades below $1.08, and prices seem likely to go even lower.

For its part, ETH has held up better and was trading closer to $1,800 than $1,700, having gained a modest 1% in a week and more than 6% in the last 30 days. It briefly moved above $1,800 over the weekend before retreating, although several market observers have expressed optimism that the current level could see the asset rise to $2,500.

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Meanwhile, Bitcoin fell slightly in the last day after starting July quite strongly as it recovered from around $57,700 to $64,000. It is currently changing hands below $63,000, with wallets holding between 10,000 and 100,000 BTC. adding 11,000 BTC in the last week, suggesting that falling demand has not dried up despite weeks of choppy trading.

Optimism faces mixed signals on chain and ETFs

While traders have warmed to XRP, the asset has had to contend with a chill in institutional and whale activity, marked by XRP spot ETFs recording their first week of net outflows in over 2 months.

Additionally, on-chain data also showed a significant drop in XRP transactions over $1 million, going from 70 to just 2 in about a week, while wallet creation on the XRP Ledger also slowed compared to the beginning of the year.