XRP open interest on Binance falls 32% in a month
- —XRP open interest on Binance fell from $323 million to $219 million over the month
- —The XRP price declined about 11% over the same period
- —Spot CVD turned negative by $2.1 billion, and by $1 billion for perpetuals
- —Lower leverage reduces the risk of cascading liquidations, but selling persists
Why it matters: Reduced leverage lowers the risk of cascading liquidations, but a persistent seller overhang gives no signal of an XRP reversal higher.
Source: DiarioBitcoin