XRP was the altcoin that benefited the most from Donald Trump's presidential victory last November, apart from Bitcoin.
XRP experienced a rapid rise in a short period, reaching a peak of $3.6 in July. However, it subsequently experienced a rapid decline, falling below $2 in the latest decline.
Market Sentiment Declines, Santiment Identifies Opportunity
As the atmosphere of uncertainty surrounding XRP continues, crypto analysis platform Santiment noted that market sentiment towards XRP is rapidly declining.
Santiment noted that, according to data, XRP has fallen more than 31 percent in the last two months and entered fear territory again earlier this month.
According to Santiment, this could be an opportunity for XRP, citing historical data that shows a 22% increase in three days following the same level of fear, adding that an opportunity may be emerging now.
“XRP price is down -31% in the last 2 months. Also, unlike Bitcoin, XRP is seeing the most fear, uncertainty, and doubt (FUD) since October according to our social data.
The last time we saw this level of fear in the crowd was on November 21st, and the price of XRP immediately rose by 22% over the next three days.
Then greed took over and the rally quickly ended. Now, just like two weeks ago, an opportunity appears to be emerging.”
XRP continues to trade at $2 at the time of writing.