- XRP futures open interest declines, with the top 5 crypto exchanges trading in the negative.
- Liquidity at $2.134 worth $248.65M could trigger price volatility if XRP drops to this level.
- XRP experiences a 25% decline since December 3, signaling reduced investor confidence.
XRP futures open interest shows a decline, with negative trading observed across four of the top five exchanges. This trend highlights reduced investor confidence, which could signal a potential short-term dip in XRP’s price.
Binance holds the highest open interest for XRP futures, with $1.25 billion, accounting for 33.66% of the total market. Bybit follows closely with $1.20 billion, representing 32.42% of open interest. Other exchanges like Bitget, OKX, and BingX also record significant activity. However, the top platforms are trading in the negative zone, indicating subdued trading momentum.
The total XRP futures open interest stands at $3.7 billion, with a volume of 1.55 billion XRP. Data shows open interest declining by 4.02% in the last 24 hours. The top 5 crypto exchanges, such as Binance and Bybit, recorded various degrees of decline with BingX recording the strongest dip of 18.38%.
The XRP liquidation map shows $248.65 million in liquidity near the $2.134 price level. If XRP drops to this level, the liquidity will be liquidated. Such liquidation could trigger a price rebound due to sudden liquidity movements. The map also highlights significant liquidation levels across Binance, Bybit, and OKX, with Binance taking the lead at $1.95M.
XRP’s recent price drop aligns with a correction that started on December 3. The cryptocurrency has lost 25% of its value since reaching a multi-year high of $2.90. It now trades at $2.39, reflecting a 9.34% decline in the past 24 hours. XRP’s market cap has fallen to $136.16 billion, while trading volume stands at $26.7 billion.
The decline in open interest, combined with falling prices, suggests caution among XRP traders. The market now closely watches the $2.134 level for potential liquidation-triggered volatility. Trading activity and liquidity shifts on major platforms like Binance and Bybit will likely influence XRP’s short-term price movements.
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