XRP ran 40% while total futures open interest FELL 16%. That is not a leverage rally.
Aug 17-31: XRP moved roughly $0.99 to $1.38 while aggregate futures OI dropped from 2.77B to 2.34B tokens. CME's share went 10% to 17%, its own book up 36% to 387M XRP (CoinGlass data via CoinDesk, Sep 1).
A move up on shrinking leverage is spot driven. Fewer crowded longs to liquidate, and what OI remains sits on a regulated venue. CFTC data through Aug 25 shows leveraged funds doubled net shorts to about 116M XRP while dealers added ~60M net long. Fast money is fading what CME accounts are accumulating.
That positioning cuts both ways, and $XRP is where it settles first. $BTC sets the tape, holding near $78K after a ~23% August.
Squeeze fuel or distribution into strength - which side of that 116M short are you on?
#Write2Earn #XRP #CME #CryptoNews
Not financial advice. DYOR.
Aug 17-31: XRP moved roughly $0.99 to $1.38 while aggregate futures OI dropped from 2.77B to 2.34B tokens. CME's share went 10% to 17%, its own book up 36% to 387M XRP (CoinGlass data via CoinDesk, Sep 1).
A move up on shrinking leverage is spot driven. Fewer crowded longs to liquidate, and what OI remains sits on a regulated venue. CFTC data through Aug 25 shows leveraged funds doubled net shorts to about 116M XRP while dealers added ~60M net long. Fast money is fading what CME accounts are accumulating.
That positioning cuts both ways, and $XRP is where it settles first. $BTC sets the tape, holding near $78K after a ~23% August.
Squeeze fuel or distribution into strength - which side of that 116M short are you on?
#Write2Earn #XRP #CME #CryptoNews
Not financial advice. DYOR.
