XRP has experienced notable fluctuations in the past 24 hours, generating optimism among traders. Despite the volatility in the cryptocurrency market, XRP saw an 8.43% increase in open positions, indicating that traders hold a more positive outlook on Ripple’s altcoin. This surge in open positions is further driven by expectations of rising prices.
XRP’s Open Positions Exceed 3 Billion Dollars
According to data from CoinGlass, the total amount of open positions for XRP has reached 3 billion dollars. In just the last 24 hours, 1.40 billion XRP, worth approximately 3.07 billion dollars, have been opened. This increase in open positions suggests a renewed interest in XRP within the market. The majority of the activity regarding XRP has concentrated on the Bitget exchange. This platform accounts for 29.38% of all open positions, equivalent to 412.38 million XRP or approximately 901.97 million dollars. Binance follows with 287.56 million XRP (629.32 million dollars), while Gate.io and Bybit contribute with 275.46 million XRP (603.24 million dollars) and 241.94 million XRP (529.84 million dollars), respectively.
XRP Price Rises Over 8%
Despite a recent downturn in the cryptocurrency market, XRP’s price movement has been noteworthy. The price, which dipped below 2 dollars last week, increased by 8.23% in the last 24 hours, reaching 2.21 dollars. This movement indicates that the altcoin remains robust despite market fluctuations. Traders believe the intense selling pressure has passed. Technical analysis shows that a critical bearish signal, the “death cross,” has not yet appeared for XRP, suggesting an increased likelihood of price stabilization. The growing volume of open positions further indicates the potential for price increases.
