XRP Price: Binance Open Interest Hits Two-Month High - What Traders Are Watching Now
TLDR
- XRP dropped below the $1 psychological support level, trading near $0.9942.
- Whale transactions over $1 million surged 280%, with more than 38 large transfers recorded in 24 hours.
- XRP’s open interest on Binance hit a two-month high, pointing to growing derivatives activity.
- Derivatives trading volume rose 12.48% to $1.55 billion, though futures open interest dipped slightly.
- XRP needs to reclaim $1 and break $1.02 resistance to confirm any recovery.
XRP slipped below the key $1 support level on Tuesday, trading around $0.9942. It was one of the weakest major cryptocurrencies on both a daily and weekly basis.
Despite the price weakness, whale activity on the XRP Ledger jumped sharply. Transactions valued above $1 million increased 280% in a single 24-hour period, with more than 38 large transfers recorded.
Crypto analyst Ali Charts (@alicharts) flagged the move on social media, writing: “$XRP WHALES ARE BACK! Whale activity on the XRP Ledger has exploded over the past 24 hours. The number of transactions exceeding $1 million has surged 280%, climbing to more than 38 large transactions.” The post drew attention to the contrast between falling price and rising large-wallet activity.
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