XRP’s sentiment slumps after failed hack attempt.

January 16, 2024
1 min read


  • The market sentiment for XRP has hit rock bottom following a failed hacking attempt that involved a transaction of $15 billion.
  • After the unsuccessful hack, there has been a significant increase in negative sentiment towards XRP, with fears of a potential sell-off that could impact its market value.

XRP, a widely known cryptocurrency, experienced a major setback when an attempted hacking incident failed. On January 14th, an exploiter tried to make a 25 billion XRP payment to the Bitfinex exchange, but the transaction did not happen. However, a tracker called Whale Alert mistakenly reported the transaction as successful, causing concern within the crypto community. As a result of this incident, the market sentiment towards XRP has plummeted.

Santiment, a leading market intelligence platform, detected a significant increase in negative sentiment towards XRP following the failed hacking attempt. Traders expressed heightened concern due to the large amount of XRP involved in the transaction, which raised fears of a potential massive sell-off that could impact XRP’s market value. Santiment’s analysis highlighted January 14th as one of the most adverse sentiment days for XRP in years. This negative sentiment reflects the apprehension within the crypto community about the security and value of XRP.

Despite the negative sentiment, Santiment suggests that there could be a potential upside for XRP investors. Santiment points out that despite XRP’s less impressive performance and a somewhat low Relative Strength Index (RSI) in 2024, there is a favorable risk-reward scenario for XRP investors. With an RSI at 42, Santiment indicates that there is a chance of upward movement for XRP despite the lingering doubts.

This incident highlights the dynamic nature of the cryptocurrency market, where unconfirmed reports can lead to significant changes in sentiment. As XRP navigates through this period of uncertainty, investors will be closely watching to see if the positive potential noted by Santiment becomes a reality in the evolving crypto landscape.

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