XRP exchange reserves across all major platforms have surged to 11.81 billion tokens as of October 17, approaching the highest levels recorded over the past year. Nearly 12 billion XRP remain available for sale, an unusually elevated amount. Binance XRP open interest dropped 15.8% from $538.1 million to $453 million between October 4 and October 17. This decline in derivatives activity suggests traders are reducing leveraged positions. This combination paints a bearish outlook for XRP amid a broader crypto market downturn.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
