$XRP About to CRASH? XRP Futures Shedding $2.4B!

#XRP has taken a 15% tumble from its recent high of $3.66, and with it, #XRPFutures open interest has dropped by a whopping $2.4 billion! This decline has traders on edge, wondering if a cascade of liquidations could push XRP below $2.60.

The charts show that leverage clearly fueled the recent 68.7% rally, with aggregate XRP futures open interest hitting an all time high of $11.2 billion before this 21% correction. While a lot of excessive bullish leverage might have been flushed out, open interest is still 48% higher than a month ago, in XRP terms, suggesting caution is warranted.

However, it's not all doom and gloom! Monthly XRP futures are consistently trading at a healthy 6% to 8% premium, indicating that overall sentiment remains neutral despite the $3 retest. This suggests that the market isn't showing extreme fear, and the recent dip could just be a healthy reset. The crypto world is still buzzing with speculation about a potential XRP spot ETF, which could ignite a massive rally. Keep a close eye on XRP, as this could be a pivotal moment! #Ripple #XRPSpotETF #Altcoins