XRP Bears Take Control as Open Interest Declines
XRP has dropped by 9% over the past 24 hours, reflecting a broader market downward trend. The market responded slightly to Donald Trump’s newly created strategic Bitcoin reserves and the just-concluded White House Crypto Summit.
As XRP bullish bias declines and markets volatility In the short term, the token may encounter more prices.
XRP trader exits position is open interest and price drop
XRP’s price has recorded a decline in the past 24 hours, so its public interest futures The trader also fell. At press time it was $3.39 billion, noting a 3% drop in the period The same period.
Disclosed interest measures The total number of outstanding derivative contracts (such as futures or options) that have not yet been resolved. When the open interest of an asset is at the same time as its price, this indicates a decline in market participation.
This trend indicates that XRP traders are closing positions without opening new positions, Market weakened Momentum and uncertainty are in their price direction.
also, XRP’s funding rate It has been negative for the past two days. This suggests that demand for short positions has increased and strengthened bearish sentiment. At the time of writing, it is -0.0040%.
Funding rates are periodic fees between long-term and short traders in permanent futures contracts to keep the contract price consistent with the spot price. Like XRP, short traders pay long traders when the fund rate is negative. This indicates a higher demand for short positions, Indicates the sentiment of the bearish market.
XRP’s sales pressure is intensifying – Will the Bulls step in to defend their support?
On the daily chart, the negative power balance (BOP) of XRP reflects the low demand for Altcoin. At the time of writing, the indicator is on a downward trend of -0.38.
The BOP of an asset measures the intensity of purchase and sale pressure by analyzing price changes over a given period. When its value is negative, it indicates that the seller is in control.
if XRP demand weakens Additionally, its price may be below the $2.13 support platform, which reduces $1.47.
But if the market trend shifts bullish and XRP traders start to accumulate more Arrived on January 16th.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
