Ripple’s XRP stages comeback, gains 30% despite increased bearish sentiment in crypto market 

XRP investors have realized nearly $2 billion in profits in the past three days following Trump’s tariff on Canada, Mexico and China.
XRP’s weighted sentiment and funding rates have plunged to significant low levels, indicating a potential bottom.
XRP set to reclaim the $3.00 psychological level but faces a descending trendline resistance.
Ripple’s XRP is up 30% in the early hours of Tuesday as bulls are looking to stage a recovery from the recent crypto market crash. While on-chain data shows prevailing bearish sentiment in the market, bulls could return to help the remittance-based token secure a move above the $3.00 psychological level.Since the crypto market crash after Trump announced tariffs on Canada, Mexico and China, XRP investors have realized nearly $2 billion in profits in the past three days — one of the highest in its history.XRP Network Realized Profit/Loss. Source: SantimentThe selling activity was dominated by whales across the long-term and short-term holders’ cohort, as indicated by spikes in the whale transaction count and Dormant Circulation.XRP Whale Transaction Count (>$100K and >$1M). Source: SantimentThe high selling activity has sent XRP’s Weighted Sentiment — which measures the overall average social volume relative to its negative/positive bias — to lows last seen in November.XRP Weighted Sentiment. Source: SantimentXRP Funding rates also plunged to lows last seen in August. Funding rates are periodic payments between traders to ensure crypto derivative contracts maintain parity with their underlying spot counterparts.XRP Funding Rates. Source: CoinglassIt’s important to note that prices often tend to go in the opposite direction when such high negative sentiments drive the crowd. This partly explains why XRP has staged a comeback, gaining over 30% in the past 24 hours.However, XRP bulls need to return to the market to strengthen the comeback as XRP’s open interest has failed to rise with the market after plunging from 2.05 billion XRP to 1.50 billion XRP. The low interest rate shows a reluctance among investors to hold large positions in the remittance-based token.XRP Open Interest. Source: CoinglassXRP saw a sharp decline below the $2.00 psychological level on Monday, sparking $103 million in futures liquidations in the past 24 hours – its highest single-day futures liquidations in the current market cycle, per Coinglass data. The total amount of liquidated long and short positions accounted for $74.67 million and $28.28 million, respectively.Following the general crypto market recovery, XRP is looking to reclaim the $3.00 psychological level. A successful move above this level could see the remittance-based token stage a move to tackle its seven-year high resistance of $3.40.XRP/USDT daily chartHowever, it faces a descending trendline resistance, extending from January 16. If XRP clears this resistance alongside the $3.40 level, it could rally to a new all-time high above $3.55.The Relative Strength