XRP retail sentiment has turned extremely bullish on Binance, OKX, and Bybit, despite a macroeconomic-driven selloff that rattled the cryptocurrency market this week.
Data from Coinglass shows that retail traders across all three exchanges favor long positions over short positions, indicating that more individual traders expect XRP prices to rise than fall.
XRP Retail Sentiment Stays Extremely Bullish
However, this bullish positioning comes as persistent inflation concerns continue to pressure the market.
The long/short ratios show the strength of this sentiment. Binance records a retail long/short ratio of 2.70, slightly below its previous reading.
OKX follows with a ratio of 3.26, which has also declined from a higher level. Bybit leads the three exchanges with a ratio of 3.92, although its reading has also edged lower.
Coinglass classifies all three readings as “extremely bullish,” and this shows that retail traders share a strong upward bias across the competing platforms despite the recent price decline.
US CPI Triggers a Multi-Day Decline
The latest selloff followed hotter-than-expected US inflation data. On Oct. 14, the BLS reported that CPI increased by 0.6% month-over-month in September.
The annual inflation rate climbed to 3.7% from 3.4% in August, exceeding economists’ forecast of 3.6%. Core CPI, which excludes food and energy prices, also surpassed expectations, rising 0.3% month-over-month against a forecast of 0.2%.
The report triggered an immediate reaction across cryptocurrency markets. According to The Crypto Basic, XRP fell 1.63% in less than 15 minutes, dropping from $1.38 to an intraday low of $1.3574.
Meanwhile, the broader crypto market lost roughly $40 billion in market capitalization within 45 minutes. Selling pressure intensified on October 15 after Producer Price Index (PPI) data reinforced inflation concerns.
PPI increased 1.3% month-over-month and 6.3% year-over-year, significantly exceeding analyst forecasts and raising fears that the Federal Reserve might pursue additional rate hikes.
XRP subsequently declined toward $1.30, while total cryptocurrency liquidations reached $1.7 billion over the four-day period. By Oct. 16, buyers had defended the $1.32 support zone, helping XRP recover to approximately $1.34.
Overall Volume and Institutional Data Tell Competing Stories
Meanwhile, Coinglass’s 24-hour taker buy/sell volume data shows a narrow advantage for buyers. Long volume reached $1.23 billion, accounting for 51.09% of total taker activity, while short volume totaled $1.18 billion, representing 48.91%.
Although the difference remains relatively small, buyers maintain the lead. This slight advantage aligns with the bullish retail positioning recorded on Binance, OKX, and Bybit, but it does not necessarily confirm that XRP has established a lasting recovery.
Data on whales and sophisticated traders presents an inconsistent trend. On Binance, whale accounts hold a long/short ratio of 3.30, which continues to rise and lands within Coinglass’s extremely bullish category.
Whale positions register a ratio of 1.99, also trending upward and classified as bullish. However, Binance’s smart money sentiment, which generally shows more sophisticated or institutional trading activity, remains extremely bearish.
OKX shows greater caution among large traders. Whale accounts record a ratio of 0.81, which is rising but remains bearish, while whale positions stand at 0.79, also in bearish territory. Smart money sentiment on the exchange is likewise bearish.
Bybit registers an extremely bullish ratio of 3.92 for whale accounts. However, whale positions stand at 0.97, indicating neutral sentiment, while its smart money indicator remains extremely bearish, matching Binance’s reading.
XRP Support Levels
Analyst Ali Charts has identified $1.25 as XRP’s next critical support level if buyers fail to defend the current trading range. A break below this level could trigger another sharp decline.
The $1.25 threshold sits roughly 16% below XRP’s pre-shock price range, which makes it an important level to monitor as inflation concerns weigh on market sentiment.
Meanwhile, XRP-linked exchange-traded funds have attracted only $13 million in October inflows so far, representing a 79% decline in the monthly inflow pace compared with September. This slowdown could leave XRP with less institutional buying support if selling pressure returns.
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