$XRP open interest tops $4.7 billion as rebound optimism returns to market
XRP has seen notable activity in the last 24 hours that signals distress for the altcoin. The asset’s open interest has suffered a huge decline in the crypto market. As per CoinGlass data, XRP plunged by 6.67% within this time frame.
Sharp decline in XRP open interest raises investor concerns
Notably, XRP recorded $4.78 billion in open interest as investors committed 2.03 billion $ETH to the asset's futures contracts. Although this volume is significant, the over 6% drop suggests a massive loss of confidence by XRP investors.
This concern is reflected in the coin's current price outlook. As of this writing, $BTC was changing hands at $2.33, representing a 3.50% decline in the last 24 hours. The coin has continued to experience volatility, testing the $2.30 support level.
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