Futures linked to XRP XRP They are flashing positive signals since cryptocurrency centered on payments seeks to generate a bullish impulse.
On Monday, the cumulative open interest in the future perpetuals of XRP that appears in main exchanges briefly increased to 800 million XRP, the largest amount since January 19, according to the veil data source. The platform tracks the activity in the USDT and USD perpetuals listed in Binance, Bybit, OKX and Hyperliquid.
The cumulative open interest is currently 743 million XRP, still 33% higher than June 22, when XRP put an intermediate fund in $ 1.90.
Open interest refers to the number of open or active futures contracts at a given time. An increase represents an influx of money in the market, although it does not give any clue to the nature of the flows.
That said, the recent increase in open interest seems to have been led by merchants who pursue long bullish bets. This is because perpetual financing rates have maintained constantly positive, occasionally exceeding the annualized brand of 10%, which indicates the demand for bullish exposure.
Exchanges generally collect financing rates every eight hours and involve long ones that pay short when the demand for bullish bets results in the perpetuals to be negotiated with a premium at the spot price.
Also points out the bullish mood in the market the “greatest merchant/short relationship” in the XRP/USDT market that closes Binance. At the time of writing, the rattled by Coinglass was 1.90, which implies that for each short, there are two long open positions. Short positions benefit when cryptocurrency decreases.
Last week, the options that quote on abandonment saw merchants pursue the so -called XRP of greater strike.
Even so, the spot price of cryptocurrency has not yet seen a notable bullish volatility. On Monday, prices rose to a maximum of $ 2.35, the level is seen for the last time at the end of May, only to quickly fall to $ 2.25 and remain around that level.
