Future linked to XRP Xrp Flash positive signals while the cryptocurrency focused on payments seeks to create upward momentum.
On Monday, the cumulative interest opened in the XRP perpetual term contracts listed on the main exchanges has briefly increased to 800 million XRP, the most since January 19, according to the Velo data source. The platform follows the activity in USDT and USD Perpetuals listed on Binance, Bybit, OKX and hyperliquid.
Cumulative open interests are currently 743 million XRP, still 33% higher than on June 22, when XRP put an interim price at $ 1.90.
The open interest refers to the number of term contracts open or active at a given time. An increase represents an influx of money on the market, although it gives no clue to the nature of the flows.
That said, the recent increase in open interest seems to have been led by merchants to chase the long and bullish bets. Indeed, perpetual financing rates have always been positive, sometimes exceeding the annualized brand of 10%, highlighting the demand for an upward exposure.
Exchanges generally collect financing rates every eight hours and involve long payment shorts when the bull’s market demand leads to perpetuates that are negotiated at a timely price.
The “Long / Short Trader Long / Short” ratio on the XRP / USDT market is also underlined by the upward atmosphere of the market. During the editorial staff, the report followed by Co -Corclass was 1.90, which implies that for each short film, there are two long open positions. Short positions benefit when cryptocurrency decreases.
Last week, the market of options contributed by the DRAIBUT saw the traders chasing higher XRP calls.
However, the cryptocurrency in cash has not yet seen any noticeable upward volatility. On Monday, prices reached a summit of $ 2.35, the level seen for the last time at the end of May, to fall back quickly at $ 2.25 and stay around this level.
