DOGE, XRP ETFs, and gamble memecoin sentiment fuels bullish trade: Santiment social data
The post DOGE, XRP ETFs, and gamble memecoin sentiment fuels bullish trade: Santiment social data appeared on BitcoinEthereumNews.com.
The optimism around approvals of exchange-traded funds (ETFs) for Dogecoin (DOGE) and XRP has witnessed an uptick, with crowd sentiment increasingly turning positive for both tokens, according to social data from Santiment released Thursday. In the last two weeks, both cryptos have recorded a price increase of more than 6%. According to market intelligence firm Santiment, the market posted a 10% gain in the final eight days of April. The analytics firm explained that traders’ risk appetite signals the early stages of what may be a greed-driven phase, which had earlier prompted investors on social media to talk about altcoins in bearish tones. The firm noted that crowd interest is now heavily centered around buzzwords like “altcoin,” “altseason,” and “bull cycle,” with traders displaying a “gamble” mindset. Historically, the most favorable altcoin buying opportunities have occurred during periods of low public attention. XRP community confident of ETF approval Santiment analysis shows confidence among XRP holders has surged, with approval odds climbing from 65% in February to 85% by late April, according to prediction markets like Polymarket. Much of this optimism is tied to changes in the regulatory environment, as the US Securities and Exchange Commission (SEC) under the Trump administration is viewed as more “friendly” towards crypto. Although the SEC delayed its decision on Franklin Templeton’s XRP spot ETF proposal to June 17, the announcement did little to dampen bullish sentiment. Many investors are confident that the eventual approval of such ETFs could open doors for larger institutional inflows. XRP’s ratio of bullish-vs.-bearish commentary (gold), and its social dominance relative to other assets (purple). Source: Santiment. Interestingly, social media discussions surrounding XRP have been declining over the past three months, but bullish voices within the community have become more pronounced. “By the time your financial adviser says it’s OK to…
