XRP and DOGE Dominate Bullish Crypto Market Sentiment, Signaling Confidence from Major Investors

Whale sentiment, a key indicator of institutional interest, has surged to record levels. XRP leads with a score of 95 on the greed index, closely followed by Dogecoin at 93, signaling strong market optimism.

Major cryptocurrencies are displaying bullish sentiment, driven by XRP and DOGE, as key investors express optimism.

According to a report by Coin Edition, whale sentiment, a crucial indicator of institutional interest, has surged to record levels. XRP leads the pack with a score of 95 on the greed index, closely followed by Dogecoin at 93, indicating strong market optimism.

The bullish sentiment is further fueled by two crucial dates for XRP. January 15 marks the deadline for Ripple and the SEC to file another appeal, while January 20 could see the appointment of Paul Atkins, a crypto-friendly figure, as SEC Chair. Speculation about the upcoming Trump administration’s pro-crypto stance is also boosting optimism.

Meanwhile, DOGE's strong performance is attributed to more than just sentiment. A massive transfer of 399.9 million DOGE, valued at about $144.9 million, to an unknown wallet has caught analysts' attention. Such movements typically indicate reduced selling pressure as assets shift off exchanges into private wallets.

According to CryptoRank data, January has historically been DOGE's best-performing month, with an average return of 85%.

The report also highlights the performance of other major cryptocurrencies. Ethereum maintains a strong foothold at $3,668.70, backed by an 83% whale confidence rating. Solana (SOL) trades at $216.20, while Cardano (ADA) holds at $1.1420, both showing robust institutional support.

Beyond top-tier cryptocurrencies, Binance Coin (BNB) also secured a 77% sentiment score, with altcoins Avalanche (AVAX) and Polkadot (DOT) garnering 84% and 75%, respectively.

As both retail and institutional metrics align in extreme greed territory, the market anticipates significant price movements across major cryptocurrencies.