Bottom line: XRP is down nearly 3%, but open interest has fallen only 4.36%. Longs are still paying to hold on.
XRP is currently around 1.372. It is down about 2.92% on both Binance and OKX. The 24-hour high was 1.418 and the low was 1.310, with prices matching on both exchanges. Total open interest across the market is about $2.059 billion. Binance open interest fell 1.69% over 24 hours, while OKX fell 6.75%—funds are pulling back, and OKX is seeing a faster retreat.
Funding rates are negative: Binance -0.006709%, OKX -0.005715%. At 8-hour intervals, that works out to annualized rates of about -7.34% and -6.26%. Shorts pay longs—not the other way around.
Liquidation flows have reversed: $21.46 million was liquidated over 24 hours, 95% of it longs. But in the past 4 hours, $618,000 was liquidated, and 99% of that was shorts. Longs are getting wiped out over the longer timeframe, while short sellers are getting punished in the short term.
$XRP $BTC
Do you think XRP’s downtrend is not over yet, or will the bears get squeezed first?
View in real time: https://www.coinboss.com/currencies/XRP