"XRP, Derivatives Open Interest Surpasses 5.23 Trillion Won... Is It a Bottom Signal?"

Minseung Kang

Summary

It was reported that the open interest of XRP derivatives increased to a scale of 5.23 trillion won.
The price of XRP rose by 5.89% in the Binance USDT market compared to the previous day, but spot trading volume decreased.
Trade tariff conflicts between the US and China could stimulate investment sentiment, and if XRP surpasses the $2.2 level, further gains are expected.

In the virtual asset (cryptocurrency) derivatives market, XRP open interest (OI) is on the rise, increasing expectations for a rebound.

According to virtual asset specialist media U.Today on the 5th (local time), XRP open interest in the futures and options derivatives market is recorded at 1.67 billion XRP. This amounts to 3.58 billion dollars (approximately 5.23 trillion won).

The price of XRP is trading at $2.1613 on the Binance USDT market as of 21:06, up 5.89% from the previous day. On the other hand, spot trading volume is reported to have decreased by 4.53% to 4.69 billion dollars. Analysts suggest that more trading volume is needed for further upward movement.

The media stated, "Macroeconomic instability, such as trade tariff conflicts between the US and China, could stimulate investment sentiment in virtual assets," adding, "If XRP stably surpasses the $2.2 level, it could recover to $2.3 and $3."

Meanwhile, open interest refers to the number of contracts in the derivatives market that traders have not yet liquidated. Generally, as open interest increases, the potential for coin price volatility also rises.

XRP