XRP long-to-short ratio on Binance dropped from 3.57 to 2.87 as traders cut bullish exposure. On-chain data shows whales sold 460 million XRP, while smaller wallets accumulated 130 million tokens. XRP chart displays a falling wedge, with potential 78% upside if confirmed, targeting $5.20. On August 21, the share of XRP long accounts among top Binance traders dropped from 78.12% to 74.15%, while shorts climbed from 21.88% to 25.85%, data shows. This pushed the long-to-short ratio down from 3.57 to 2.87 in less than 24 hours. In terms of open positions, longs stood at 65.98%, with shorts making up 34.02%, bringing that ratio down to 1.94, its lowest point in weeks. This adjustment signals significant caution as markets await Powell’s address at the Jackson Hole symposium. Related: All Eyes on Powell: The Three Scenarios for the Fed’s Speech and What They Mean for Crypto On-Chain Data Shows a Divided Market On-chain data indicates wallets holding 10–100 million XRP sold about 460 million tokens in the past week, contributing to a nearly 6% price decline. Meanwhile, smaller wallets with 1–10 million tokens accumulated 130 million XRP in the same … The post XRP’s “Falling Wedge” Pattern Targets a $5.20 Rally, But Top Binance Traders Keep Selling appeared first on Coin Edition .
