XRP Sees Open Interest Rebound to $1.27B on Binance Amid Neutral Funding Rates and Rising Speculative Leverage
Main Idea
XRP's open interest on Binance has rebounded to $1.27 billion, indicating renewed speculative trading activity, while funding rates remain neutral, reflecting a balanced market environment.
Key Points
1. XRP's open interest on Binance has doubled since August, reaching $1.27 billion, signaling increased trading activity.
2. Funding rates for XRP remain neutral, suggesting a balanced market without extreme directional positioning.
3. Open interest peaked at $1.76 billion in July before dropping to $995 million in August, now showing recovery.
4. The Estimated Leverage Ratio for XRP has doubled, indicating growing speculative interest.
5. The Taker Buy/Sell Ratio has shifted from a selling bias to a more balanced state, reflecting investor indecision.
Description
XRP on Binance has seen its open interest rebound to $1.27 billion, indicating a resurgence in speculative trading as buyers return to the market. XRP’s open interest has doubled since
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