XRP Price: Down 68% From Its High - So Why Are So Many Traders Going Long?

TLDR

• XRP dropped to a day low of $0.98 and is trading around $1, down 68% from its yearly high of $3.65
• Futures open interest climbed to $2.78 billion, up 2% in 24 hours, with trading volume surging 55%
• Binance and OKX traders are heavily long, with a 3.6-to-1 long-to-short ratio on both exchanges
• Social sentiment hit a three-month low across X, Reddit, and Telegram, per Santiment
• Nearly 50,000 active addresses were recorded in 24 hours, the highest in over two months

XRP is trading around the $1 mark after hitting a day low of $0.98 on Monday. The token is down roughly 68% from its high of above $3 reached last year.

Despite the price drop, traders are not walking away. Futures open interest rose to $2.78 billion on Monday, up 2% over 24 hours, according to data from CoinGlass.

Trading volume jumped 55% to around $1.17 billion in the same period. That increase points to more activity, not less, even as the price remains under pressure.

On Binance, more than three accounts held long XRP positions for every one holding a short. The largest traders on the exchange showed a 3.6-to-1 long-to-short split. OKX showed the same 3.6-to-1 ratio.

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