XRP looks primed for a breakout as top Binance traders and smart money ramp up aggressive long positions.
Doctor Profit, a prominent trader known for nailing key market moves this cycle, has now opened a 10x leveraged long on XRP.
He previously sold his entire position at $2.44 and is re-entering at $2.26, citing a major triple bottom on the daily chart.
Indeed, the XRP price is up by nearly 8% on the day after the Canadian asset management company Purpose Investments received regulatory approval for its spot XRP ETF, which will go live on the Toronto Stock Exchange on June 18th.
The US SEC is widely expected to approve spot XRP ETFs soon, further cementing XRP’s status as one of the best cryptos to buy now.
Summary
Top Traders Are Going Mega Long on XRP
Recent derivatives data confirms that top traders are aggressively positioning long on XRP, signalling high conviction in a potential breakout.
Binance’s top trader long/short ratio currently stands at 2.26, while the broader account-level ratio is also skewed heavily in favour of longs at 2.05. Open interest has surged by 12.4%, and volume has spiked by more than 200%, indicating a wave of fresh capital entering bullish positions.
Even funding rates are turning positive again, which means that long-leveraged traders are paying shorts across major platforms.
A deeper look at XRP’s options data on Binance confirms the broader bullish sentiment. Call open interest accounts for more than 92% of total positions, while puts make up just 7.25%, which indicates a bullish directional bias.
The most actively traded contracts are calls expiring on June 28, particularly those with strike prices at $2.45, $2.50, and $2.40, all of which lead in both open interest and 24-hour volume.
Overall, the derivatives and options data confirm that smart money is long XRP with high size and leverage. Sentiment is overwhelmingly bullish, and momentum is building fast.
Is It Time To Go All In On XRP?
Whales and sharks are indeed going all in on XRP. Data from the on-chain analysis platform Santiment reveals that over 2700 whales and sharks are holding at least 1M XRP for the first time in the asset’s 12-year history.
However, sidelined investors would do well to exercise a tad more caution. The XRP price is currently trading at $2.30, just below the $2.32 – $2.36 resistance range. Interested buyers should wait for a breach of this zone before investing.
Nevertheless, XRP remains one of the best cryptos to buy now, with the launch of new spot ETFs globally and the imminent institutional investment. Several analysts are expecting the XRP price to reach $5 to $8 this year itself.
Solaxy Also Among The Best Cryptos To Buy Now
Besides being ultra-long on large-cap assets like XRP, smart money investors are also hunting for low-cap gems with 10x to 100x returns.
A new Solana meme coin with Layer-2 utility, Solaxy (SOLX), has emerged as a standout pick for whales, which continue to pour six-figure investments into it just days before its launch.
The SOLX presale has raised over $53 million in its presale, with the token going live on June 23rd.
The Solaxy layer-2 testnet is already live, and the chain will become fully operational by July. With its powerful ZK rollup, a deterministic rollup and a sophisticated state-change function, experts believe Solaxy can ensure fast and cheap transactions and high scalability, even during the meme coin season on Solana.
Besides its Hyperlane-powered multi-chain bridge means excellent interoperability between the popular blockchains for users.
Beyond its traditional rollup capabilities, Solaxy has also launched its competitor to Pump.Fun, called the Igniter Protocol. SOLX holders can now launch their own meme coin, which will trade on Solaxy DEX.
Considering that it could soon be an integral part of the Solana ecosystem, it is no surprise that experts are calling SOLX the next 10x crypto.
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