Summary
- U.Today reported that XRP open interest increased 12% over the past 24 hours.
- It added that open interest in perpetual contracts rose about 12% in a day to $1.4 billion.
- While rising open interest generally suggests a higher likelihood of increased price volatility, it said XRP was at $2.06, down 0.05% from the previous day.
XRP open interest has surged.
On the 17th (Korea time), U.Today, citing data from Coinalyze, reported that XRP’s open interest rose 12% over the past 24 hours.
Most of the increase came from “perpetual” contracts. Open interest in perpetual contracts climbed about 12% in a single day to $1.4 billion, while open interest in dated futures contracts fell 0.19% to around $2.2 million.
Open interest is an indicator showing the size of outstanding, unliquidated contracts in the futures market and reflects demand for digital assets in futures trading. In general, rising open interest increases the likelihood of greater price volatility.
However, XRP’s price has yet to rise. As of 8:30 p.m. today, XRP was trading at $2.06, down 0.05% from the previous day.
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