- Sentiment around XRP has turned sharply negative, hitting one of its highest bearish levels in the past two years, according to Santiment data.
- Analyst Ali Martinez notes XRP is in a 9-year ascending triangle, where a retest of $0.75-$0.80 support could be a buying opportunity before a breakout.
- Despite the extreme fear, historical patterns suggest such spikes in FUD often precede market reversals and potential rallies.
- Martinez projects that a successful breakout from the long-term pattern could lead to a historic move of over 500% for XRP.
Sentiment for Ripple’s XRP plunged to a two-year low on Monday, according to data from analytics firm Santiment. Consequently, bearish commentary now significantly outweighs bullish discussions across social media platforms.
However, Santiment observed that such extreme spikes in fear, uncertainty, and doubt have historically preceded market reversals. “Prices move in the opposite direction of the crowd’s expectations,” the platform noted, suggesting periods of extreme fear are often followed by relief rallies.
Meanwhile, crypto analyst Ali Martinez provided a contrasting technical perspective. He explained that XRP is trading within a “giant 9-year ascending triangle.”
Martinez identified a key support zone between $0.75 and $0.80 as a potential “buy the dip” opportunity. He argued that “when a 9-year consolidation finally breaks, the move is usually historic,” projecting a potential 500% rally.
This sentiment shift occurred as the broader Crypto Fear and Greed Index fell to 12, indicating “extreme fear” market-wide. Despite this, XRP’s price held relatively stable, trading above $1 with a minor 24-hour decline.
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