CoinScoopXRP Consolidates as Derivatives Leverage Declines Faster Than Price
Open interest for XRP derivatives on Binance fell 15.3% from a six-month high of $616.1 million on September 22 to $521.5 million. During the same period, the price of XRP dropped 5.2%, moving from $1.572 to $1.490. CryptoQuant analyst CryptoOnchain noted that this decoupling suggests a period of technical consolidation and range-bound trading, as leverage is reduced without a massive spot market sell-off.
Summaries are written by AI from the original article. Not investment advice.