🚀 XRP Close to $5 Billion in Open Interest! Is a Short Squeeze Coming? 🔥
XRP is generating great expectations with open interest approaching $5 billion, reflecting a strong increase in speculative activity while trading around $2.20. This scenario, according to experts like analyst Xaif, is typical before a short squeeze, where traders betting on a decline are forced to cover their positions by buying at higher prices, driving an explosive rally.
Why is it important?
• High open interest indicates that both buyers and sellers are taking aggressive positions, setting the stage for a strong movement.
• XRP is in a narrow consolidation range, a technical signal that often precedes significant price breakouts.
• Key events in June, such as the possible approval of the XRP ETF, the Federal Reserve meeting, and the XRPL Apex summit, could be the catalysts that trigger this rise.
Attention: Without a clear catalyst, high speculation can also increase volatility and the risk of massive liquidations if sentiment changes.
