XRP has slipped about 5% while open interest has dropped about 10% in coin terms and 15% in dollar terms, a gap analyst Cryptoinsightuk calls a potentially encouraging sign. Spot buying has picked up over the same stretch, pointing to accumulation beneath the pullback.
XRP has pulled back roughly 5%, falling from a local high of $1.66 to around $1.57, according to analyst Cryptoinsightuk. Open interest, however, has dropped about 10% in coin terms and 15% in dollar terms — a decline that outpaces the price move itself.
That mismatch signals leverage coming out of the market faster than price is falling. Meanwhile, spot volume has also risen considerably, meaning buyers are stepping in around current levels even as leveraged long positions get flushed out.
Cryptoinsightuk called the divergence a potentially encouraging sign. The analyst argues it points to weaker, over-leveraged hands exiting the market while longer-term investors accumulate the underlying asset.
Source: Coinpedia Fintech News
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