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TronWeekly

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$19M XRP on Binance in 24 Hours: Bullish Momentum?

  • Binance recorded a net inflow of $19.05 million in XRP in just 24 hours, signaling increased bullish sentiment.
  • XRP derivatives data shows a surge in trading volume by 68% to $6.75 billion, but a decrease in open interest and options volume suggests traders are focusing on short-term gains.
  • XRP long/short ratio on Binance is at 3.43, indicating a bullish outlook, with significant liquidation of short positions in the past 24 hours.
  • Exchange flow analysis indicates Binance had a much higher net inflow of XRP compared to Coinbase and Bitstamp, reflecting heightened activity and interest in XRP.

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