XRP Sees Renewed Trader Activity as Market Absorbs Selling Pressure
XRP has experienced a 20% increase over the past week, currently trading at $2.54 after a slight 2% decline in the last 24 hours. Despite this dip, XRP remains above recent lows, indicating growing trader interest. Analysis shows a rebound in XRP derivatives open interest on Binance, rising from $530 million to a higher range, suggesting increased market confidence. Funding rates have turned neutral, reflecting a balance between long and short positions, though there are signs of rising short exposure. The Taker Buy/Sell Ratio is at 0.91, indicating dominant selling pressure, yet stable prices suggest potential absorption by larger players. These indicators point to possible silent accumulation and may signal an upcoming trend reversal or breakout as speculative activity increases.
