XRP, which experienced a great rise after the SEC victory in July 2023 and approached $ 1, experienced a Bitfinex hacking incident involving a $ 15 billion XRP transaction.
Although this hack failed, it negatively affected investors’ sentiment towards XRP.
Evaluating the failed hacking incident and its impact on the XRP price, Santiment said that there is a high negative sentiment towards XRP.
Santiment stated that although the FUD on XRP is high, the RSI is low and there is an upside potential.
“Following the failed Bitfinex hack attempt using XRP’s ‘Partial Payment’ feature, there is high negative sentiment towards XRP.
XRP’s price performance remains moderate in 2024. “While FUD for XRP remains high, the RSI remains low and there is upside potential.”
Santiment also states that the RSI remaining at 42 offers a positive risk-reward scenario and emphasizes that in the FUD and RSI dilemma, XRP’s upside potential outweighs the downside risk.
📊 Following an attempted (but failed) @bitfinex hack using a “Partial Payments Exploit”, there is high negative sentiment toward $XRP. The #altcoin’s price performance has been middling in 2024. Along with a low #RSI, there is upside while #FUD is high. https://t.co/QOPIKzD7sC pic.twitter.com/M6u59SUVlN
— Santiment (@santimentfeed) January 15, 2024
*This is not investment advice.
Read the full article here