XRP traders bet on a rebound as price slips to $1 and bearish chatter surges
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
XRP's price is hovering around $1 while futures open interest and trading volumes increase. Traders on Binance and OKX hold leveraged long positions in favor of a price rebound despite bearish social-media sentiment hitting a three-month low. Network activity is rising, with nearly 50,000 active addresses in 24 hours, but analysts warn a drop below $1 could trigger forced liquidations of overleveraged longs.
Why it matters
The source highlights that rising futures open interest and trading volume reflect significant market engagement in XRP, even as sentiment turns negative. The large proportion of leveraged long positions concentrated on major exchanges poses liquidation risks that could lead to selling pressure, impacting the token’s price and market dynamics.
Key context
XRP’s price has fallen from over $3 last year to around $1 currently. The increase in active addresses marks a rise in network usage after activity had declined to near 2026 lows earlier this summer. The long-to-short ratio on Binance and OKX is about 3.6 to 1 among top traders, indicating a strong bet on price increases despite the bearish outlook on social channels. Futures positions in XRP now total approximately 2.77 billion tokens, a level not seen since when the price was considerably higher.
Key numbers and entities
XRP price: around $1. Futures open interest: $2.78 billion. Trading volume (24h): $1.17 billion. Long-to-short ratio on Binance and OKX (top traders): about 3.6 to 1. Nearly 50,000 active addresses in 24 hours. Source analytics by CoinGlass and Santiment. Exchanges involved: Binance and OKX.
What remains unclear
The source does not specify the precise composition of the active addresses or whether transactions are primarily buying, selling, or internal transfers. It also does not provide details on the potential timing or triggers of forced selling if the price breaks below $1. The broader market impact beyond these observations is not explored.