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.
Make preferred on
Share this article
Summary
- XRP is hovering around $1 as futures open interest and trading volumes climb, with Binance and OKX traders heavily skewed toward leveraged long positions.
- Social-media sentiment toward XRP has turned the most negative in three months even as futures positioning nears levels last seen when the token traded several times higher.
- Network activity is picking up, with nearly 50,000 active addresses in 24 hours, and analysts warn that a break below $1 could trigger forced selling from overleveraged longs.
