4 weeks ago
7
Key Takeaways
- Binance XRP open interest fell to 397 million XRP, a three-month low.
- Lower recovery highs at $1.17, $1.155, and $1.10 cap each bounce.
- The $1.03 to $1.05 base has absorbed every selloff since late June.
- Daily RSI at 44.4 sits below neutral, above its signal line.
Falling Open Interest Changes What This Range Means
Open interest measures the total number of futures contracts that remain open at any moment. When it falls, traders are closing positions or declining to open new ones. When it falls while price stays flat, as it is doing now, the market is deleveraging without dumping.
Arab Chain wrote on CryptoQuant that the decline points to “a slowdown in activity within the derivatives market.” The firm noted that falling open interest alongside soft prices often reflects weaker risk appetite and an outflow of liquidity from futures, leaving leverage lower than ...
English (US)