In July, XRP reached a new all-time high (ATH), and Binance data indicates that speculative leveraged trading activity has continued to rise. At the July peak, Open Interest stood at $1.76 billion, but it dropped to $995 million during the August decline. Recently, however, it has begun climbing again, currently standing at $1.27 billion.
Funding rates remain in a neutral range, reflecting a phase of investor indecision where long and short positions are relatively balanced. In such conditions, it often makes more sense to follow the prevailing trend rather than take a contrarian position.
The Taker Buy/Sell Ratio has shifted from a selling bias toward a more balanced state, indicating that selling pressure is easing and buyers are gradually stepping in. If this buying appetite continues, the uptrend could be sustained.
Meanwhile, the Estimated Leverage Ratio has reached notable levels. Since breaking out of the accumulation zone, XRP’s leverage has doubled — a clear sign of increased speculative activity. However, historically, a rapid rise in buying appetite alongside growing speculative positions often signals that a potential reversal may be approaching.
Written by BorisVest
