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Futures tied to XRP {{Xrp}} Positive signals are blinking because cryptocurrency -aimed payments seem to build bull momentum.
On Monday, the cumulative open interest in the Futures XRP, listed on the main stock exchanges briefly increased to 800 million XRPs, most of all since January 19, according to the data source Velo. The platform monitors the USDT and USD activity perpetuals listed on Binance, Bybity, OKX and Hyperliquid.
The cumulative open interest is currently 743 million XRPs, still 33% higher than June 22, when XRP put the accompaniment to Mejing at $ 1.90.
The open interest concerns the number of futures contracts open or active at a given time. The increase is the influx of money on the market, even if it does not give any traces of the nature of the flows.
However, it seems that the recent increase in open interest was led by traders who chased the bull long bets. This is because permanent financing rates have permanently maintained positive and occasionally exceed the annual 10% stamp, indicating the demand for bull exposure.
Exchange usually collect financing rates every eight hours and include longs paying shorts when the demand for bull bets leads to trading in permanent substances for a bonus for a spot price.
The “Top Trader Long/Short Ratio” on the XRP/USDT market is also on the bull mood on the market. Since writing, the ratio watched Coinglass He stood at 1.90, suggesting that two long positions are open for each short part. Short position gain when the cryptocurrency drops.
Last week he saw the Options market on the Debit List Merchants chase Calling a higher strike XRP.
Nevertheless, the spot price of the cryptocurrency must still see remarkable bull volatility. On Monday, the prices rose to a maximum of $ 2.35, the last time at the end of May, just to drop quickly to $ 2.25 and remain around this level.
