XRP’s open interest drops 23% as traders reduce leverage
- XRP open interest on major derivatives platforms fell 23% in less than a month, from $1.128 billion to about $871 million, indicating that traders are reducing leverage rather than betting against the token.
- The downturn was mainly driven by Binance, Bybit, and OKX, with open positions decreasing significantly—reflecting traders restructuring their positions instead of a clear bearish trend.
- XRP’s price is down 8% after legal challenges, currently around $1.30, and closely monitored around support zones from $1.24 to $1.26; price could continue to fall if these levels are broken.
Source: CryptoPotato
🌍 Updated by GemCrypto
$XRP
#XRP #Crypto
- XRP open interest on major derivatives platforms fell 23% in less than a month, from $1.128 billion to about $871 million, indicating that traders are reducing leverage rather than betting against the token.
- The downturn was mainly driven by Binance, Bybit, and OKX, with open positions decreasing significantly—reflecting traders restructuring their positions instead of a clear bearish trend.
- XRP’s price is down 8% after legal challenges, currently around $1.30, and closely monitored around support zones from $1.24 to $1.26; price could continue to fall if these levels are broken.
Source: CryptoPotato
🌍 Updated by GemCrypto
$XRP
#XRP #Crypto
