XRP traders bet on a rebound as price slips to $1 and bearish chatter surges
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.
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.
An active address is a wallet that sent or received anything during the period. It shows more wallets are using the ledger, but not whether the people behind them are buying, selling or shuffling tokens between their own accounts.
CoinGlass data show the long-to-short ratio across all venues at about 0.93 over 24 hours, indicating market-wide positioning is close to balanced. The heavy long bias sits on Binance, OKX and among their bigger accounts.
Watch what happens if XRP breaks below $1, as leveraged longs that run out of collateral get closed by the exchange, which could mean selling into the market.
#ChinaJulyOutputRetailInvestmentAllMiss
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.
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.
An active address is a wallet that sent or received anything during the period. It shows more wallets are using the ledger, but not whether the people behind them are buying, selling or shuffling tokens between their own accounts.
CoinGlass data show the long-to-short ratio across all venues at about 0.93 over 24 hours, indicating market-wide positioning is close to balanced. The heavy long bias sits on Binance, OKX and among their bigger accounts.
Watch what happens if XRP breaks below $1, as leveraged longs that run out of collateral get closed by the exchange, which could mean selling into the market.
#ChinaJulyOutputRetailInvestmentAllMiss