XRP Deleveraging Signal Flashes As Open Interest Sinks To $445 Million
Photo: Coinpedia
XRP’s last two leverage flushes on Binance were followed by sharp rebounds, with a 72% gain after mid-August and a 32% climb after mid-September. A similar setup is now forming. Open interest in XRP futures on the exchange has fallen to $445 million, below its 180-day average of about $460 million, according to on-chain researcher Darkfost. The total has shrunk by almost 28% since September 22, while the token’s price has slipped 17% to around $1.29. Part of the drop comes from lower prices reducing the dollar value of open positions. Forced liquidations during the selloff cleared out more.
Source: Coinpedia
