© Reuters
CRYPTOCURRENCY MARKETS – A hack attempt that targeted a massive transfer of 25 billion XRP to cryptocurrency exchange Bitfinex was successfully intercepted, preventing a potentially destabilizing large-scale sale. The incident, which circulated in the news yesterday, sparked a wave of negative sentiments towards XRP. Data from Santiment, a behavioral analytics platform, detected a significant rise in bearish discussions on social media platforms, contributing to the pessimistic outlook among investors and traders.
Despite the initial alarm, the market reaction appears to be mixed. Historical trends indicate that negative public opinion is not always a reliable indicator of future price movements. In fact, there have been times when such sentiment preceded a rise in the price of XRP.
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