$XRP
XRP is essentially fighting to maintain acceptance above the psychological $1 level. It trades at $1.0127 with a $63.33B market cap. Derivatives data shows roughly $2.68B in open interest and close to $1.7B in 24-hour futures volume, versus about $304M in spot turnover. That imbalance tells me leveraged markets are having a strong influence on short-term pricing. Around $6.5M in XRP futures positions were liquidated over the same period. I’m therefore watching not only the $1 level, but whether OI expands or contracts during weakness
XRP is essentially fighting to maintain acceptance above the psychological $1 level. It trades at $1.0127 with a $63.33B market cap. Derivatives data shows roughly $2.68B in open interest and close to $1.7B in 24-hour futures volume, versus about $304M in spot turnover. That imbalance tells me leveraged markets are having a strong influence on short-term pricing. Around $6.5M in XRP futures positions were liquidated over the same period. I’m therefore watching not only the $1 level, but whether OI expands or contracts during weakness