Binance futures traders have turned bullish on Ripple’s cross-border token, XRP, with 66.86% of opened positions being long.
However, previous instances of high bullish sentiment among Binance futures traders were followed by a price correction, indicating a potential risk for XRP.
The important $2 resistance level was broken, and XRP's price dropped to a multi-month low of $1.6 in a recent similar scenario.
While history is not a definitive indicator, it is essential to learn from it and be cautious. Observing the market sentiment, the Binance futures traders currently appear greedy in relation to XRP.