NFT News Today TheBittimes.com

XRP open interest surged on Monday, October 13, as the crypto rebounded nearly 8% over the previous 24 hours and regained roughly $32 billion in market cap lost during last Friday’s market collapse. The daily trading volume also rose 40%, to $10.7 billion, suggesting renewed buying sentiment following a wipeout sparked by President Donald Trump’s declaration of a 100% tariff on Chinese imports, which triggered $19 billion in crypto liquidations within minutes.  As of the time of writing, daily XRP open interest, the total value of outstanding futures and options contracts that have not been settled, is up 2.38%, sitting at approximately $1.36 billion, according to data Finbold retrieved from CryptoQuant . XRP 24-hour open interest. Source: CryptoQuant This spike indicates a sharp and quick uptick in leveraged positioning, as traders re-enter the market to capitalize on the increased volatility. More precisely, increasing percentages following a sudden price reb...

XRP open interest is close to a 1-year low as of April 14, with the sum of open positions declining to 1.18 billion, down from a high of 3.67 billion in mid-January, according to the latest data retrieved by Finbold from market intelligence platform CryptoQuant . XRP open interest year-to-date (YTD) chart. Source: CryptoQuant What does this mean for crypto traders? In essence, derivatives trading volume has dried up. This is a clear signal of reduced speculative interest — but more importantly, it’s a strong sign that no clear trend, bullish or bearish, is present. This is supported by yet another simple metric — trading volume. The reduction in XRP open interest is accompanied by sluggish volume — which has reduced by 22.49% over the past 24 hours according to data from CoinMarketCap , and has been on a steady decline since Wednesday, April 9. XRP 24-hour trading volume change. Source: CoinMarketCap Yet this reduction in speculative trading will impact the tok...