Key takeaways:
-
XRP open interest has taken a nosedive of 30%, leaving futures traders looking like deer in headlights. 🦌
-
The $2.33-$2.65 range now moonlights as a cozy demand zone, perfect if selling pressure persists. ☕
-
Whales are splashing about, cashing in, but fear not-XRP’s long-term quest for $5 in 2025 is still very much on the cards. 🎩
XRP (XRP) futures open interest (OI) has slid down the slippery slope by 30% over the past month, from $11 billion to $7.7 billion, while prices have retreated from a giddy $3.66 peak. A drop in OI usually signals either profit-taking or traders’ confidence doing a vanishing act-either way, it’s a scene worthy of a Wodehouse chapter. 📉
Back in Q1, XRP experienced a similar kerfuffle: OI plunged from $8.5 billion to $3 billion, a 65% tumble, while spot prices took a more dramatic nosedive of over 50%. The current scene is a milder echo, suggesting traders might start stockpiling once OI settles into a comfy new range.
Technically speaking, XRP boasts a daily fair value gap between $2.33 and $2.65-a rather inviting little nook for accumulation if open interest keeps shrinking. A cooling OI often precedes a period of price serenity or an accumulation spree, historically serving as a springboard before the next frenzied rally. 🚀
Liquidations, mercifully, are more like a polite cough than a market hurricane. Only $22 million in longs were wiped out on Monday, and $56 million during the 6% pullback on Aug. 14. In the grand theatre of overheated markets, this is hardly the stuff of tragedy. 🎭
All in all, the OI tumble may give one pause, but it also sets the stage for a potential price bottom. Should XRP defend the $2.33-$2.65 range, traders might see this OI cooldown as a springboard to loftier heights rather than a prelude to disaster. 🏰
XRP whale inflows keep price under near-term pressure
According to CryptoQuant, XRP’s recent frolic to $3.66 came with a veritable whale parade, with massive inflows to exchanges, particularly from holders of 100,000 to 1 million XRP. Historically, such spectacles have heralded major market tops, from $3 in 2018 to $0.90 in 2023-proof that big investors enjoy a good profit-taking frolic. 🐋💰
At present, XRP is consolidating just shy of $3, with inflows keeping spirits high and pressure palpable. Should whales continue unloading, a tumble toward the $2.6 support zone may unfold. However, a stout defense of $3 could well signal resilience and set the stage for another bullish pirouette. 💃
Structurally, XRP’s broader uptrend remains intact. Compared with past cycles, the crypto’s technical health is robust, keeping the $5 target in 2025 firmly in sight, despite the occasional comedic hiccup along the way. 🎯
Read More
- Gold Rate Forecast
- Wuchang Fallen Feathers Save File Location on PC
- Prediction: Boeing Won the F-47 Contract — and Maybe F/A-XX as Well
- From Stage to Screen: 20 Singers Who Tried Acting and How They Fared!
- Umamusume: All current and upcoming characters
- Umamusume: Gold Ship build guide
- 15 Actors Perfect for the Role of the Firestorm in the DCU
- A Once-in-a-Lifetime Opportunity: This Blue Chip Healthcare Stock Down 50% Could Double Your Money
- Should You Buy or Sell Apple Stock Before July 31? The Answer May Surprise You
- Should You Sell These 2 Popular “Magnificent Seven” Stocks Before They Report Earnings?
2025-08-26 21:23