XRP traders bet on a rebound as price slips to $1 and bearish chatter surges#marketanalaysses
Futures open interest climbed to $2.78 billion and traders on Binance and OKX leaned heavily long, even as social sentiment hit a three-month low.#cryptonews
$XRP
$XPL
$BTC
#Market_Update XRP traders are increasingly betting on a rebound even as the token struggles around $1 and online commentary turns its most bearish in three months.
Futures open interest, the money tied up in outstanding derivatives positions, rose to about $2.78 billion on Monday, up 2% over 24 hours, with trading volume jumping 55% to roughly $1.17 billion, according to CoinGlass.
More than three accounts on Binance held long XRP positions for every one holding a short, and the ratio among the exchange's largest traders was about 3.6 to one. OKX showed the same 3.6-to-one split.
A long position is a bet that the price will rise. Leverage lets a trader make a larger bet than their money would otherwise buy, at the cost of being automatically forced out if the market moves far enough against them.
Sentiment has gone the other way, meanwhile. Commentary about XRP across X, Reddit, Telegram, and other channels reached its most negative level in three months this week, onchain analysis firm Santiment said, after the token failed to rally. XRP trades around $1, down from above $3 at last year's highs.
The scale of the positioning is easier to see when measured in tokens. About 2.77 billion XRP now sits in futures positions, up from closer to 2 billion earlier this summer and nearing the levels last seen when the token was worth several times more.
The ledger is getting busier too. Nearly 50,000 addresses were active over a 24-hour stretch, the most in more than two months, per Santiment, after activity slid toward its 2026 lows in July.
Futures open interest climbed to $2.78 billion and traders on Binance and OKX leaned heavily long, even as social sentiment hit a three-month low.#cryptonews
$XRP
$XPL
$BTC
#Market_Update XRP traders are increasingly betting on a rebound even as the token struggles around $1 and online commentary turns its most bearish in three months.
Futures open interest, the money tied up in outstanding derivatives positions, rose to about $2.78 billion on Monday, up 2% over 24 hours, with trading volume jumping 55% to roughly $1.17 billion, according to CoinGlass.
More than three accounts on Binance held long XRP positions for every one holding a short, and the ratio among the exchange's largest traders was about 3.6 to one. OKX showed the same 3.6-to-one split.
A long position is a bet that the price will rise. Leverage lets a trader make a larger bet than their money would otherwise buy, at the cost of being automatically forced out if the market moves far enough against them.
Sentiment has gone the other way, meanwhile. Commentary about XRP across X, Reddit, Telegram, and other channels reached its most negative level in three months this week, onchain analysis firm Santiment said, after the token failed to rally. XRP trades around $1, down from above $3 at last year's highs.
The scale of the positioning is easier to see when measured in tokens. About 2.77 billion XRP now sits in futures positions, up from closer to 2 billion earlier this summer and nearing the levels last seen when the token was worth several times more.
The ledger is getting busier too. Nearly 50,000 addresses were active over a 24-hour stretch, the most in more than two months, per Santiment, after activity slid toward its 2026 lows in July.