XRP traders are increasingly betting on a rebound even as the token struggles around $1 and online commentary turns its most bearish in three months.
Futures open interest, the money tied up in outstanding derivatives positions, rose to about $2.78 billion on Monday, up 2% over 24 hours, with trading volume jumping 55% to roughly $1.17 billion, according to CoinGlass.
More than three accounts on Binance held long XRP positions for every one holding a short, and the ratio among the exchange’s largest traders was about 3.6 to one. OKX showed the same 3.6-to-one split.
A long position is a bet that the price will rise. Leverage lets a trader make a larger bet than their money would otherwise buy, at the cost of being automatically forced out if the market moves far enough against them.
Sentiment has gone the other way, meanwhile. Commentary about XRP across X, Reddit, Telegram, and other channels reached its most negative level in three months this week, onchain analysis firm Santiment said, after the token failed to rally. XRP trades around $1, down from above $3 at last year’s highs.
