- XRP’s price dropped 15.61% last month, but traders remain bullish with long positions.
- Long positions dominate, with significant open interest across Binance and Bitget signaling potential rally.
- Despite strong sentiment, declining trading volume and options interest suggest a rally may be uncertain.
Ripple’s XRP hasn’t had a smooth ride lately. The token fell over 15% this past month, and many expected the downtrend to continue. But something unexpected is happening—traders aren’t flinching. Confidence is building in the background. While the price remains shaky, some big players are going long with serious conviction. This feels less like panic and more like preparation. Is this quiet confidence a sign that XRP is ready to bounce back?
Volume Decline Raises Some Red Flags
Despite all that bullish energy, momentum isn’t keeping up. Trading volume fell by over 50% in just one day, now resting at $4.98 billion. That kind of drop weakens confidence and makes it harder for price to push higher. The options market paints an even darker picture. Volume there dropped by 62.51%, suggesting a serious lack of interest from speculators. Without volume, rallies lose strength before they begin. So, while traders keep doubling down on XRP’s future, the rest of the market isn’t rushing to join them. The bulls are loud, but without broader support, that rally may stay just out of reach.
Long Bets Take Center Stage in the Derivatives Market
Over on Binance, long positions are clearly dominating the market. Over 70% of traders have adopted a bullish outlook, driving the long-to-short ratio up to 2.37. This ratio isn’t just a sign of optimism; it signals strong expectation. Traders aren’t simply hoping for a rally; they’re putting their money where their mouths are, betting that one is on the way. Adding to this picture, data from Coinglass reveals that open interest has surged to $679.47 million, with nearly $478 million of that invested in long positions.
This surge in long positions isn’t just driven by retail investors. The amount of capital involved suggests significant confidence from more experienced players, likely institutional traders or high-net-worth individuals. Bitget is also following a similar trend, with its open interest now at $1.04 billion. This growth points to an increasing belief that a price reversal is on the horizon, further adding weight to the bullish narrative.
Heavy accumulation like this often leads to higher price levels. Long traders are even willing to pay additional fees to maintain their positions. The current funding rate of 0.0059% indicates that buyers are firmly in control of the market—for now. Despite a slight dip in the market, short positions worth $2.4 million were liquidated in the past 24 hours. These weren’t just regular closures; they were forced liquidations, underscoring the strength of the current bullish momentum.
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