XRP Price Outlook Turns Bullish as Long Positions Dominate on Binance

XRP traders on Binance are showing strong bullish sentiment, with long positions consistently outpacing shorts in the XRP/USDT perpetual market. According to Coinglass data, over 70% of positions during the past few days were longs, signaling growing optimism for a potential XRP price rally.

Despite minor fluctuations, the overall trend shows longs maintaining dominance. Around May 19, there was a brief shift when short positions momentarily overtook longs. However, the market quickly corrected, and long interest surged again, highlighting a strong belief among traders that any dip in XRP price represents a buying opportunity.

The price trend has generally mirrored trader sentiment, with the black line on the Coinglass chart tracking XRP’s price showing pullbacks followed by recoveries—yet long positions stayed above 60% during most of this time. This consistency reflects widespread confidence in XRP’s potential to rise further, with some traders eyeing the $3 mark amid recent bullish developments.

On-chain activity also supports sustained interest in XRP. Glassnode data shows fluctuations in active addresses, peaking at nearly 44,000 on May 17 before dropping below 30,000 and then rebounding to around 33,000 by May 21. These patterns indicate that while market sentiment can be volatile, underlying network activity remains relatively healthy.

As of the latest CoinMarketCap update, XRP is trading at $2.41, up 1.28% in the past 24 hours. While macroeconomic factors could influence market dynamics, current indicators suggest XRP bulls are holding strong, with retail traders driving much of the momentum.