On-chain market intelligence platform Santiment has taken to Twitter to disclose that the Ripple network has made a notable recovery this quarter. XRP has built and sustained bullish momentum for two weeks straight.
This has resulted in the altcoin’s price surging by more than 44% within two weeks. Santiment’s data also noted that the asset’s daily gains were up by more than 11% at the time of their report.
XRP’s bullish position has birthed fruits for XRP traders. Data shows that XRP traders are taking in significant profits at this time. Santiment would go on to reveal that the current profit-taking levels are at their highest, against losses. This is the first time since August of 2021 that XRP profit levels have touched this point.
“XRPNetwork continues its impressive March recovery, with its price now +44% in the past 2 weeks and another +11% today. As a result, we’re seeing a very high level of trader profit taking, which is at its highest ratio vs. loss taking since Aug, 2021.” Santiment wrote in a tweet.
Ripple outperforms Bitcoin, Ethereum and other leading altcoins to become the highest gainer
At report time, data from CoinMarketCap shows that XRP is currently the highest daily, weekly and hourly gainer among the top then most valued assets by market cap.
The altcoin, which currently occupies the 6th position, has unseated all its counterparts, including the apex cryptocurrency Bitcoin, to break out from the red zone entirely.
At press time, XRP has secured 1.67% gains in the last hour. The asset is up by 12.76% in the last 72 hours. XRP now trades at a press time price of $0.54.
Sentiments for XRP and the entire Ripple community are mostly positive at this time. Per our recent report, one of the market’s prominent figures has made a very bullish call for XRP.
As the community awaits a ruling judgement from the court over the ongoing Ripple vs SEC lawsuit, Attorney John Deaton has asserted that XRP presents the most attractive risk/reward ratio.
As many other market players have stated, a Ripple win could be the catalyst for a much-needed XRP rally. Deaton sides with these sentiments and predicts an upside for XRP if it is not classed as a security.
