$XRP trades at 1.3031 after a 2.1 percent day, and that bounce comes straight off the lowest print of the last thirty days, 1.2562 on 18 October.
The tape underneath it is thin. Spot turnover on the pair was 97.54M over the last 24 hours against a 30 day average of 213.69M, so 0.46x, spread across 380,394 trades. That is less than half the usual participation on a day the token added just over 2 percent.
Open interest says the same. It stood at 319.64M tokens at 23:00 UTC yesterday, slid to 315.00M by 17:00 today and reads 316.43M now. In dollar terms it went from 415.83M to 411.59M across the same window. Price rose, leverage did not follow.
Positioning is where it gets lopsided. The long short account ratio sits at 2.5997, which is 72 accounts in 100 holding longs, and it has not dropped below 2.57 in the last ten hourly prints. Takers are doing the opposite: the buy sell ratio closed under 1 in six of those same ten hours, as low as 0.8542 at 18:00.
Funding caught the turn. Five consecutive settlements printed negative between 16:00 on 17 October and 00:00 today, the deepest at minus 0.0077 percent. The last two flipped positive, 0.0079 and 0.0027 percent, so shorts stopped being paid roughly when the low was set.
On the daily the structure is still lower high, lower low, lower high, and price is resting on the top edge of the demand band between 1.25 and 1.28. First resistance overhead is 1.43. The 1.6581 of 23 September is 21.5 percent away.
Rank five, 82.14B cap, and a rebound carried by the fewest buyers in a month.
Follow for the data behind the move, not the headline.
#xrp #altcoin #crypto #defi #bitcoin
The tape underneath it is thin. Spot turnover on the pair was 97.54M over the last 24 hours against a 30 day average of 213.69M, so 0.46x, spread across 380,394 trades. That is less than half the usual participation on a day the token added just over 2 percent.
Open interest says the same. It stood at 319.64M tokens at 23:00 UTC yesterday, slid to 315.00M by 17:00 today and reads 316.43M now. In dollar terms it went from 415.83M to 411.59M across the same window. Price rose, leverage did not follow.
Positioning is where it gets lopsided. The long short account ratio sits at 2.5997, which is 72 accounts in 100 holding longs, and it has not dropped below 2.57 in the last ten hourly prints. Takers are doing the opposite: the buy sell ratio closed under 1 in six of those same ten hours, as low as 0.8542 at 18:00.
Funding caught the turn. Five consecutive settlements printed negative between 16:00 on 17 October and 00:00 today, the deepest at minus 0.0077 percent. The last two flipped positive, 0.0079 and 0.0027 percent, so shorts stopped being paid roughly when the low was set.
On the daily the structure is still lower high, lower low, lower high, and price is resting on the top edge of the demand band between 1.25 and 1.28. First resistance overhead is 1.43. The 1.6581 of 23 September is 21.5 percent away.
Rank five, 82.14B cap, and a rebound carried by the fewest buyers in a month.
Follow for the data behind the move, not the headline.
#xrp #altcoin #crypto #defi #bitcoin