XRP Gains 1.6% but Binance Spot Volume Collapses 78.6%
- —Binance spot XRP/USDT volume fell from $252.45 million on Oct 8 to $54.12 million on Oct 10
- —XRP price rose 1.6% over the same period, from 1.3805 to 1.4024 USDT
- —Buyer-initiated trade share dropped from 51.8% to 43.1%
- —Binance XRP futures open interest rose to 297.75 million XRP on Oct 11, still below Oct 8 levels
Why it matters: The divergence between price and volume signals weak spot demand, with XRP's rebound driven by derivatives, raising the risk of a sharp pullback.
Source: TokenPost