Binance Sees Surge in XRP Futures Activity as Traders Regain Confidence
The cryptocurrency market has seen a surge in XRP futures activity on Binance as traders become more active in leveraged trading.
Data from CryptoQuant shows that open interest (OI) in XRP futures on Binance has spiked to 440.6 million tokens, with the 30-day Open Interest Z-Score surging to about 1.60.
This indicates that traders are becoming more confident in opening new leveraged positions after a long period of caution.
The price of XRP remains at local lows near $1.14, but market analysts believe the divergence between rising open interest and stable prices could signal a larger price move.