XRP Open Interest Loses Over $3 Billion In 3 Months Amid Market Turmoil

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XRP‘s Open Interest Takes a Nose Dive: Is the Altcoin’s Fate Sealed? 🚨

XRP Open Interest Loses Over $3 Billion In 3 Months Amid Market Turmoil

The XRP Open Interest (OI) has taken a drastic plunge, losing a whopping $3 billion in nearly three months. This precipitous drop is a clear indication that traders and investors have lost faith in XRP’s short-term prospects. It’s like watching a beautiful sunset turn into a dark stormy night – the market’s volatility and instability have left XRP reeling.

XRP’s Open Interest: A Story of Woe

According to the data wizards at Coinglass, XRP’s Open Interest has been on a downward spiral since January 2025. The on-chain analytics platform revealed that the XRP Futures Open Interest on exchanges skyrocketed to a whopping $7.87 billion on January 18. It was like a wild party, with Binance, Bybit, Bitget, and other exchanges leading the charge.

But, as the saying goes, “all good things must come to an end.” XRP’s Open Interest began to decline each month, like a leaf falling from a tree. At the start of February, it plummeted to $5.94 billion, a 24% decrease from its initial high. While it experienced a slight recovery, it ultimately recorded an even deeper decline to $3.01 billion on February 28. It’s like watching a beautiful garden wither away – sad, indeed.

Currently, the Open Interest is sitting at around $3.22 billion, reflecting a decrease of over 50%. Although this is a slight increase from its previously stated low, XRP has still lost approximately $4.62 billion in less than three months. It’s like losing a loved one – a painful reminder of what could have been.

And if that wasn’t enough, the XRP Futures Open Interest on Binance has also taken a hit. On January 17 2025, the Open Interest on Binance had skyrocketed to $1.62 billion, but it’s now down to $619.8 million – a loss of over $1 billion. It’s like watching a beautiful castle crumble to dust – devastating, indeed.

So, what’s behind this deep decline in XRP’s Open Interest? Well, the recent market turmoil and the cryptocurrency’s subsequent price correction have fueled uncertainty over its prospects. With the downturn, the XRP price is trading at $2.28, a 15% decline over the past month. It’s like being lost in a dense forest – uncertain and scared.

Typically, Open Interest represents the total capital invested in open positions in the market. A sharp drop in OI suggests that traders are closing their positions without opening new ones, potentially indicating reduced trading activity and waning interest. It’s like watching a beautiful fire burn out – a sad sight indeed.

Analyst Predicts A Price Surge To $10

While XRP faces limitations due to its decline in Open Interest and broader market conditions, a technical analyst identified as ‘Steph in Crypto’ on X (formerly Twitter) has shared a chart predicting a surge in the cryptocurrency. According to the analyst, the price is gearing up for a surge above $10 soon – a bold prediction, indeed.

The analyst’s ambitious prediction is based on the recent formation of a Golden Moving Average Convergence Divergence (MACD) Cross on the price chart. Steph presented a chart with a green box showing XRP’s price action in 2024, which saw a decline followed by a rally. The second box illustrates the cryptocurrency’s movement in 2025. If history repeats, the analyst believes that the altcoin may break out upwards again after its current consolidation phase – a glimmer of hope, perhaps.

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2025-03-20 02:28