XRP's open interest surges as the cryptocurrency recovers from a sudden crash.

crypthub

about 23 hours ago

Market Recovery

XRP rebounded nearly 8% on Monday, recouping about $32 billion of market‑cap lost during Friday’s crash. Daily trading volume rose 40% to $10.7 billion, indicating renewed buying after President Trump’s 100% tariff announcement triggered $19 billion in crypto liquidations. The surge reflects traders’ confidence returning amid heightened volatility.

Open Interest Surge

Open interest climbed 2.38% to roughly $1.36 billion, marking a sharp increase in unsettled futures and options contracts. This suggests leveraged positions are re‑entering the market to capture the rally. While fresh capital may fuel further upside, higher leverage also raises the risk of forced liquidations if prices reverse.

Technical Outlook

XRP trades at $2.58, still 14% below its weekly high and under the $3 psychological level. The price remains beneath the 200‑day EMA of $2.63, with the RSI at 34.5 indicating short‑term oversold conditions. Resistance clusters around $2.62, while support sits near $2.30; a break toward $2.74 could revive momentum toward $3.10.

Whale Activity

An unknown wallet moved about 23.9 million XRP (≈$62.6 million) to Binance, a pattern often linked to large‑holder sell pressure. This transfer adds bearish sentiment and could further weigh on price stability.