7.3x its usual hourly move: $XRP climbed 1.7% in one hour
$XRP rose 1.7% in one hour, 7.3x its typical move, while BTC barely moved. Mostly shorts were forced out, with short liquidations at 124.3x the average hour.
Open interest is the total value of futures positions still open. It edged up 0.18% over the hour, so the total barely changed even as many short positions were closed by force.
A forced close happens when a trader's collateral can no longer cover the loss on a position. A burst of these on one side often goes together with a sharp, fast price move.
What to watch: The 24h high at 1.29, which price is testing now.
Is $XRP on your radar this week?
$XRP #PriceAction #CryptoFutures
Not financial advice. Futures are high-risk.
$XRP rose 1.7% in one hour, 7.3x its typical move, while BTC barely moved. Mostly shorts were forced out, with short liquidations at 124.3x the average hour.
Open interest is the total value of futures positions still open. It edged up 0.18% over the hour, so the total barely changed even as many short positions were closed by force.
A forced close happens when a trader's collateral can no longer cover the loss on a position. A burst of these on one side often goes together with a sharp, fast price move.
What to watch: The 24h high at 1.29, which price is testing now.
Is $XRP on your radar this week?
$XRP #PriceAction #CryptoFutures
Not financial advice. Futures are high-risk.
