{"id":629988,"date":"2024-07-17T00:00:57","date_gmt":"2024-07-17T00:00:57","guid":{"rendered":"https:\/\/wncen.com\/?p=629988"},"modified":"2024-07-16T14:49:58","modified_gmt":"2024-07-16T14:49:58","slug":"xrp-litecoin-social-media-fomo-bad-sign-prices","status":"publish","type":"post","link":"https:\/\/wncen.com\/xrp-news\/xrp-litecoin-social-media-fomo-bad-sign-prices\/","title":{"rendered":"XRP & Litecoin See Social Media FOMO: Bad Sign For Prices?"},"content":{"rendered":"

Data shows that users on social media are overwhelmingly showing FOMO towards XRP and Litecoin, something that could be a bearish sign for their prices.<\/p>\n

Weighted Sentiment Has Spiked For Both XRP & Litecoin Recently<\/h2>\n

According to data from the analytics firm Santiment<\/a>, LTC and XRP are among the coins that have seen an improvement in sentiment following the recent price recovery. The indicator of interest here is the “Weighted Sentiment<\/a>,” based on two other metrics: Sentiment Balance and Social Volume.<\/p>\n

The Sentiment Balance tells us about the current net sentiment on major social media platforms. This indicator works by putting posts\/threads\/messages related to a given coin through a machine-learning model to identify whether they are positive or negative.<\/p>\n

Related Reading: Bitcoin Hasn\u2019t Reached Bull Cycle Top Yet, Quant Explains Why<\/a><\/div>\n

Once the metric has found out the number of posts of each type, it takes their difference to determine the net situation around the asset on social media.<\/p>\n

There is perhaps one flaw in the Sentiment Balance, though, and it’s the fact that it contains no information about how many users share this sentiment. Sometimes, discussion around the cryptocurrency can be low, so whatever the metric would signal would only correlate to what the few users talking about it think, which may not necessarily relate to the majority.<\/p>\n

The Weighted Sentiment fixes this problem by also incorporating Social Volume data. The Social Volume<\/a> keeps track of the degree of talk that any given asset receives on social media platforms.<\/p>\n

Thus, the Weighted Sentiment only registers a spike (in either direction) when not only does the Sentiment Balance have a high value but also the Social Volume is signaling the presence of high discussions.<\/p>\n

Now, here is a chart that shows the trend in this metric for Litecoin and XRP over the past month:<\/p>\n

\"Litecoin
The value of the metric appears to have seen a spike recently | Source: Santiment on X<\/a><\/figcaption><\/figure>\n

As displayed in the above graph, the Weighted Sentiment has seen spikes into the positive territory for both XRP and Litecoin with their recent price surges. This suggests that many positive posts have appeared around these coins.<\/p>\n

Historically, highly positive sentiment has been a bearish sign for any asset, with tops becoming probable as investors FOMO<\/a>. The chart shows that XRP had seen a rise in FOMO earlier in the month, and the cryptocurrency had set a top alongside this spike.<\/p>\n

Related Reading: Bitcoin Bears Crushed: $100M In Crypto Shorts See Flush As BTC Breaks $63,000<\/a><\/div>\n

As such, the latest spike in the Weighted Sentiment may not be ideal for the recovery runs that XRP and Litecoin have started. “These coins can continue to rise, but the crowd’s euphoria toward these assets could make them high-risk, high-reward investments this week,” notes the analytics firm.<\/p>\n

XRP Price<\/h2>\n

XRP has enjoyed a rally of almost 26% in the past week, which has taken its price back above the $0.54 level.<\/p>\n

\"XRP
The price of the coin appears to have been rising recently | Source: XRPUSD on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from iStock.com, Santiment.net, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Data shows that users on social media are overwhelmingly showing FOMO towards XRP and Litecoin, something that could be a bearish sign for their prices. Weighted Sentiment Has Spiked For Both XRP & Litecoin Recently According to data from the analytics firm Santiment, LTC and XRP are among the coins that have seen an improvement in sentiment following the recent price recovery. The indicator of interest here is the “Weighted Sentiment,” based on two other metrics: Sentiment Balance and Social Volume. The Sentiment Balance tells us about the current net sentiment on major social media platforms. This indicator works by putting posts\/threads\/messages related to a given coin through a machine-learning model to identify whether they are positive or negative. Related Reading: Bitcoin Hasn\u2019t Reached Bull Cycle Top Yet, Quant Explains Why Once the metric has found out the number of posts of each type, it takes their difference to determine the net situation around the asset on social media. There is perhaps one flaw in the Sentiment Balance, though, and it’s the fact that it contains no information about how many users share this sentiment. Sometimes, discussion around the cryptocurrency can be low, so whatever the metric would signal would only correlate to what the few users talking about it think, which may not necessarily relate to the majority. The Weighted Sentiment fixes this problem by also incorporating Social Volume data. The Social Volume keeps track of the degree of talk that any given asset receives on social media platforms. Thus, the Weighted Sentiment only registers a spike (in either direction) when not only does the Sentiment Balance have a high value but also the Social Volume is signaling the presence of high discussions. Now, here is a chart that shows the trend in this metric for Litecoin and XRP over the past month: As displayed in the above graph, the Weighted Sentiment has seen spikes into the positive territory for both XRP and Litecoin with their recent price surges. This suggests that many positive posts have appeared around these coins. Historically, highly positive sentiment has been a bearish sign for any asset, with tops becoming probable as investors FOMO. The chart shows that XRP had seen a rise in FOMO earlier in the month, and the cryptocurrency had set a top alongside this spike. Related Reading: Bitcoin Bears Crushed: $100M In Crypto Shorts See Flush As BTC Breaks $63,000 As such, the latest spike in the Weighted Sentiment may not be ideal for the recovery runs that XRP and Litecoin have started. “These coins can continue to rise, but the crowd’s euphoria toward these assets could make them high-risk, high-reward investments this week,” notes the analytics firm. XRP Price XRP has enjoyed a rally of almost 26% in the past week, which has taken its price back above the $0.54 level. Featured image from iStock.com, Santiment.net, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":630018,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89561],"tags":[10,2776,92754,92755,2828,4531,90895,89578,91193,10972],"class_list":["post-629988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp-news","tag-litecoin","tag-litecoin-bearish","tag-litecoin-fomo","tag-litecoin-weighted-sentiment","tag-ltc","tag-xrp","tag-xrp-bearish","tag-xrp-fomo","tag-xrp-weighted-sentiment","tag-xrpusd"],"acf":[],"yoast_head":"\nXRP & Litecoin See Social Media FOMO: Bad Sign For Prices?<\/title>\n<meta name=\"description\" content=\"Users on social media are overwhelmingly showing FOMO towards XRP and Litecoin, something that could be a bearish sign for their 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP & Litecoin See Social Media FOMO: Bad Sign For Prices?","url":"http:\/\/wncen.com\/xrp-news\/xrp-litecoin-social-media-fomo-bad-sign-prices\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/xrp-news\/xrp-litecoin-social-media-fomo-bad-sign-prices\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/iStock-1359416693.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/iStock-1359416693.jpg?fit=2309%2C1299"},"articleSection":"XRP News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["litecoin","litecoin bearish","litecoin fomo","litecoin weighted sentiment","ltc","xrp","xrp bearish","xrp fomo","xrp weighted sentiment","xrpusd"],"dateCreated":"2024-07-17T00:00:57Z","datePublished":"2024-07-17T00:00:57Z","dateModified":"2024-07-17T00:00:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP & Litecoin See Social Media FOMO: Bad Sign For Prices?\",\"url\":\"http:\\\/\\\/wncen.com\\\/xrp-news\\\/xrp-litecoin-social-media-fomo-bad-sign-prices\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/xrp-news\\\/xrp-litecoin-social-media-fomo-bad-sign-prices\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/iStock-1359416693.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/iStock-1359416693.jpg?fit=2309%2C1299\"},\"articleSection\":\"XRP News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"litecoin\",\"litecoin bearish\",\"litecoin fomo\",\"litecoin weighted sentiment\",\"ltc\",\"xrp\",\"xrp bearish\",\"xrp fomo\",\"xrp weighted sentiment\",\"xrpusd\"],\"dateCreated\":\"2024-07-17T00:00:57Z\",\"datePublished\":\"2024-07-17T00:00:57Z\",\"dateModified\":\"2024-07-17T00:00:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/iStock-1359416693.jpg?fit=2309%2C1299","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/629988"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=629988"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/629988\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/630018"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=629988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=629988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=629988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}