XRP Open Interest Falls to Lowest Since Nov 2024
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XRP's derivatives market has dropped to multi-month lows in open interest, clearing leverage, and setting up cleaner conditions for a possible trend reversal.
Ripple’s (XRP) price has been on a consistent decline over the past month amid broader crypto weakness, as it shed over 26% during the period. A fresh decline of almost 3% on Wednesday revived concerns that liquidation pressure from last weekend’s sharp sell-off may not be fully exhausted.
But new data suggests that the market reset following the liquidations could allow spot demand to drive the price naturally, without over-leveraged positions causing swings.
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