XRP's Open Interest Soars to Highest Since October Amid Leverage and CPI Fears
XRP's open interest has surged to its highest level since October, reaching 2.67 billion XRP, worth approximately $2.73 billion.
This marks a significant increase from the 2.25 billion XRP recorded at the beginning of the month and puts the token on high alert as it hovers just above the psychological threshold of $1.
Fears of volatility are justified given the buildup of leverage, round numbers, and the upcoming U.S. CPI release later today, which could lead to a violent move in either direction.