Summary
⚈ XRP open interest fell from 1.52B to 1.37B as price dipped 5.3%.
⚈ Despite declines, XRP’s long/short ratio remains near 1-month highs, signaling optimism.
⚈ Ripple v. SEC case conclusion could trigger a market-wide boost for XRP.
XRP’s open interest has seen a marked decline since the token dropped below $2.20 in the opening days of May.
On April 28, the number of open XRP derivatives positions reached a 1-month high of 1.52 billion. By May 6, the cryptocurrency’s open interest had declined to 1.37 billion per data retrieved by Finbold from market intelligence platform CryptoQuant, indicating a greatly lessened degree of speculative betting on the part of traders.
XRP open interest on April 28 and May 6. Source: CryptoQuant
In the same timeframe, the price of XRP declined from $2.26 to $2.14 — a 5.3% drop. By press time on May 7, the token’s price had further declined to $2.13, bringing XRP year-to-date (YTD) returns down to just 2
We współpracy z: https://finbold.com/xrp-open-interest-collapses-from-1-month-high/
