XRP open interest nears monthly high
Summary ⚈ XRP open interest nears monthly high with over 1.5 billion positions on May 8. ⚈ SEC settlement agreement fuels XRP’s price surge to $2.37, up 6.81% in 24 hours. ⚈ XRP targets $2.40 next, with potential range-bound trading between $2.58 and $2.75. XRP open interest, which measures the number of derivatives positions open at any given time, is close to a 1-month high. As of May 8, there were slightly more than 1.5 billion such positions open — 1,509,021,450, to be exact. This represents a 13.37% surge from the roughly 1.3 billion (1,330,942,764) positions that were open a day earlier, according to data analyzed by Finbold and retrieved from market data platform CryptoQuant. XRP open interest 1-month charts. Source: CryptoQuant This high degree of interest in speculative XRP positions could soon surpass the present 1-month high, reached on April 28, which totalled 1,521,467,165 positions, just 0.82% above the May 8 reading. XRP prices and ope...