XRP Whale Indicator Turns Bullish, Futures Open Interest Reaches New High
- The XRP Whale Flow metric has turned positive for the first time since July, indicating renewed buying interest among whales.
- XRP held on Binance decreased from 3.1 billion to 2.7 billion following the October market crash.
- XRP futures open interest reached a record high of $1.4 billion on CME, with total open interest across exchanges surpassing $4.4 billion in the last day.
- XRP’s price increased over 15% in the past two weeks but is currently trading at $2.58, having fallen nearly 2% in the last day.
- The trading volume for XRP rose by approximately 12% in the last day, indicating heightened trader interest.
The positive shift in whale accumulation and rising futures open interest suggests growing confidence in XRP. However, despite recent gains, XRP’s price remains just above critical moving averages and must overcome resistance levels to sustain upward momentum.
Currently priced at $2.58 after a slight decline, XRP needs to break through resistance levels around $2.60 and $2.72 for potential further gains.(Source)
