"XRP fails to recover $3?…Institutional selling, accumulated leverage burden"

Minseung Kang

Summary

Recently, XRP has continued range-bound trading due to institutional selling and the accumulation of leverage positions.
Exchange deposits have risen to the highest level in 9 months, and futures open interest (OI) is nearing $9 billion, indicating signs of leverage overheating.
If the $2.78 support breaks, large-scale leveraged liquidations could lead to increased short-term volatility.

XRP price is attempting to recover to $3 but is showing a limited range-bound movement, according to analysis.

On the 10th (local time), crypto asset (cryptocurrency) specialist media CoinDesk reported that XRP traded repeatedly in the $2.78~$2.85 range that day. With institutional selling continuing and leverage positions accumulating, concerns are growing about expanding volatility.

The outlet analyzed, "Over the past 30 days, about 440 million XRP tokens have been distributed into the market, pushing exchange deposits to the highest level in 9 months," and added, "At the same time, futures open interest (OI) is approaching $9 billion, signaling leverage overheating in the market."

Traders are currently watching whether the $2.78 support level holds. If this level breaks, large-scale leveraged liquidations could occur, potentially increasing short-term volatility.

XRP