XRP traders bet on a rebound as price slips to $1 and bearish chatter surges
XRP traders are increasing their long positions despite negative social media sentiment and a lack of significant price movement. While futures open interest has risen, the market remains divided between bullish retail positioning and broader bearish chatter.
Why it matters
Divergence between speculative futures positioning and social sentiment often precedes periods of high volatility for altcoins.
Futures open interest, the money tied up in outstanding derivatives positions, rose to about $2.78 billion on Monday, up 2% over 24 hours, with trading volume jumping 55% to roughly $1.17 billion, according to CoinGlass .
More than three accounts on Binance held long XRP positions for every one holding a short, and the ratio among the exchange's largest traders was about 3.6 to one. OKX showed the same 3.6-to-one split.
A long position is a bet that the price will rise. Leverage lets a trader make a larger bet than their money would otherwise buy, at the cost of being automatically forced out if the market moves far enough against them.
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