XRP, Solana See Bullish Reset in Sentiment as Bitcoin and Ether Lag

XRP and Solana have shown renewed bullish sentiment as their options indicate positive risk reversals, contrasting with Bitcoin and Ethereum, which remain in a bearish state. The 25-delta risk reversal, a sentiment gauge that assesses market expectations by comparing the implied volatilities of call and put options, has turned positive for XRP and SOL across multiple expirations, suggesting confidence among traders. This bullishness follows a demand spike for puts after a significant market crash that saw XRP's price drop sharply. In contrast, Bitcoin’s options reflect a prevailing concern for downside risks, with puts trading at a premium over calls. Liquidity issues and the aftermath of price crashes have contributed to a more balanced sentiment in XRP's perpetual futures. Overall, while XRP and SOL traders display optimism, Bitcoin and Ethereum traders remain cautious, indicating a split in market confidence among major cryptocurrencies.

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