Data from Binance suggests XRP sellers increasing selling pressure, met by buyers silently accumulating XRP, potentially signaling a bullish breakout.
Open interest for XRP on Binance futures hit an all-time high of $1.5 billion before dropping to $530 million, clearing leveraged positions and sparking renewed trader interest.
Market analysts see a potential short squeeze as funding rates turn negative during corrections, with current neutral rates indicating an upward push for XRP and a mild squeeze in progress.
Taker Buy/Sell Ratio on Binance at 0.91 indicates strong market selling, potentially leading to absorption of sellers and hinting at a bullish trend. With XRP trading above $2 at $2.58, signs of market speculation and stability are evident.