Here’s all about XRP’s biggest derivatives sell-off of the year!#CryptoNewss
$XRP
$WAL
$SOL
#Market_Update Activity around XRP is very interesting right now.
Futures activity has been heating up and bigger hands seem to be stepping in. However, sell pressure in the derivatives market is the highest it’s been in a while. So, it’s a tug of war between buyers and sellers right now.
#CryptoDawar XRP sell pressure hits YTD high
The timing here is interesting. Especially since Binance net taker volume recently fell to -$96 million. This is the strongest selling push the market has seen this year.
Traders would usually step away, but things might be different this time. In fact, Binance Open Interest (OI) went up by about 14.8%, suggesting that new positions are still being opened!
#MarketSentimentToday For context, XRP recently recovered with strength from its latest lows.
Futures flow is seller-dominated
Now, consider the ones that are actively pushing that flow.
The latest 90-day Taker CVD reading showed “sell dominance.” This basically means that more traders are hitting the sell side instead of waiting for buyers to come to them.
That fits with the pressure already visible in Binance net taker volume. So, while XRP has put up a strong front, the Futures market is still leaning bearish underneath.
$XRP
$WAL
$SOL
#Market_Update Activity around XRP is very interesting right now.
Futures activity has been heating up and bigger hands seem to be stepping in. However, sell pressure in the derivatives market is the highest it’s been in a while. So, it’s a tug of war between buyers and sellers right now.
#CryptoDawar XRP sell pressure hits YTD high
The timing here is interesting. Especially since Binance net taker volume recently fell to -$96 million. This is the strongest selling push the market has seen this year.
Traders would usually step away, but things might be different this time. In fact, Binance Open Interest (OI) went up by about 14.8%, suggesting that new positions are still being opened!
#MarketSentimentToday For context, XRP recently recovered with strength from its latest lows.
Futures flow is seller-dominated
Now, consider the ones that are actively pushing that flow.
The latest 90-day Taker CVD reading showed “sell dominance.” This basically means that more traders are hitting the sell side instead of waiting for buyers to come to them.
That fits with the pressure already visible in Binance net taker volume. So, while XRP has put up a strong front, the Futures market is still leaning bearish underneath.
