Key takeaways: XRP open interest remains elevated despite the recent drop, suggesting traders are still holding leveraged positions. Low onchain activity on the XRP Ledger raises doubts about sustainable price gains above the $3 resistance level. XRP (XRP) has fallen 15% since reaching $3.66 on July 18. This move was accompanied by a $2.4 billion drop in XRP futures open interest, a metric that reflects the total value of outstanding leveraged positions. Traders now fear that routine market volatility could trigger cascading liquidations, potentially driving XRP below $2.60. XRP futures aggregate open interest, USD. Source: CoinGlassThe chart above clearly shows…
Author: CYPRUS EYE
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