Smart money sentiment on XRP has shifted to extremely bearish levels on Binance and Bybit, raising questions about the sustainability of the token's recent recovery attempt, according to Coinglass data.
XRP declined from $1.52 on October 6 to a low of $1.31 on October 8, a loss of approximately 14% in 48 hours. The token has since recovered to $1.4075 following buying pressure, but smart money traders remain skeptical of the rebound's longevity.
Smart Money vs. Retail Sentiment
While smart money traders maintain bearish positions on Binance and Bybit, OKX is the exception among the three major derivatives exchanges with neutral smart money sentiment.
Retail traders and whale accounts paint a different picture. On Binance, retail traders show a long/short ratio of 2.41 (bullish), while whales display a 2.82 ratio (extremely bullish). On Bybit, retail traders record a 3.80 ratio and whales a 3.78 ratio, both classified as extremely bullish.
OKX retail traders show extreme bullishness with a 3.06 ratio, though whale accounts there are more neutral at 0.92 and whale positions bearish at 0.37.
Trading Volume and Technical Signals
XRP futures data shows continued selling pressure. Over the past 24 hours, short taker volume reached $1.18 billion, accounting for 52.23% of total taker activity, while long taker volume stood at $1.08 billion at 47.77%.
Technical indicators show mixed signals. The Directional Movement Index's positive indicator (+DI) stands at 15.13 and is moving higher, suggesting buyers are gaining some control. However, the negative indicator (-DI) remains elevated at 31.46. The Average Directional Index (ADX) stands at 41.11, indicating the prevailing trend remains strong, though both -DI and ADX are declining.
XRP has recorded four consecutive green four-hour candlesticks over the last 16 hours and has broken above a descending channel's upper trendline. For the recovery to gain momentum, buyers must maintain the token above the $1.37 support level and push the +DI decisively above the -DI.
