PANews reported on October 6th that according to Finbold, CryptoQuant data shows that XRP's open interest (OI) surged to nearly $2.92 billion on October 5th, once again becoming a focus of speculative activity among traders. A surge in open interest indicates a significant influx of funds into leveraged positions, often signaling increased market volatility. Notably, XRP's price is currently stable around $2.99, approaching the $3 resistance level. Analysts point out that despite billions of dollars in contracts being established, XRP has yet to effectively break through $3, indicating a fierce confrontation between bulls and bears at this critical level. If XRP can successfully break through $3, the current high OI could fuel a price rally. Conversely, a pullback could trigger large-scale long position liquidations.PANews reported on October 6th that according to Finbold, CryptoQuant data shows that XRP's open interest (OI) surged to nearly $2.92 billion on October 5th, once again becoming a focus of speculative activity among traders. A surge in open interest indicates a significant influx of funds into leveraged positions, often signaling increased market volatility. Notably, XRP's price is currently stable around $2.99, approaching the $3 resistance level. Analysts point out that despite billions of dollars in contracts being established, XRP has yet to effectively break through $3, indicating a fierce confrontation between bulls and bears at this critical level. If XRP can successfully break through $3, the current high OI could fuel a price rally. Conversely, a pullback could trigger large-scale long position liquidations.
XRP open interest surges to nearly $3 billion, with bulls and bears at a stalemate at $3.
PANews reported on October 6th that according to Finbold, CryptoQuant data shows that XRP's open interest (OI) surged to nearly $2.92 billion on October 5th, once again becoming a focus of speculative activity among traders. A surge in open interest indicates a significant influx of funds into leveraged positions, often signaling increased market volatility. Notably, XRP's price is currently stable around $2.99, approaching the $3 resistance level. Analysts point out that despite billions of dollars in contracts being established, XRP has yet to effectively break through $3, indicating a fierce confrontation between bulls and bears at this critical level. If XRP can successfully break through $3, the current high OI could fuel a price rally. Conversely, a pullback could trigger large-scale long position liquidations.
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