XRP Trading Hits $7.27B While Open Interest Drops 4.23% — A Sign of Exit or Strategy Shift?

XRP’s $7.27B volume surge contrasts with a 4.23% drop in open interest, signaling a wave of position closures.

XRP remains tightly ranging, with support at $2.30 and resistance at $2.43.

Slight rise in options trading may suggest that traders are switching to more liquid plays in the face of uncertainty.

The derivatives market for XRP has presented a contrasting picture over the last 24 hours. Volume had a dramatic spike of 69.38% to $7.27 billion, and open interest fell by 4.23% to $4.56 billion. The reverse pattern shows the shift in sentiment, and the reason why the traders appear to be more intent on closing out current positions than new ones.

XRP Price Holds Steady in Tight Range

The increase in trade did not result in a strong change in XRP’s price. XRP was valued at $2.39, with prices up by 0.6% from yesterday. The currency is currently fluctuating between support at $2.30 and resistance at $2.43. As long as a breakout is not seen above or below these levels, price action will be contained.

Options Activity Rises as Traders Hedge Amid Uncertainty

The options side of the market reflects a slight rise in participation. Options volume has increased by 2.31% to $488,230, and options open interest is up 4.56%, now standing at 542,060 contracts. The contrast between declining futures open interest and increasing options activity may suggest that traders are using options to hedge or speculate with defined risk.

The resulting rise in volume and drop in open interest are normally taken to be an indicator of short-term speculative trading. This usually arises from closing out of positions instead of building long-term positions. While this could be driven by profit-taking, it might also reflect uncertainty among market participants about XRP’s next move.

XRP Price Outlook

Looking ahead, the narrowing price range between $2.30 support and $2.43 resistance suggests an imminent breakout. High trading volume and positive sentiment can lead to a bullish breakout pushing XRP to $2.50–$2.55 in the short term. A breakdown below $2.30 with declining open interest and failure of the buyers to hold the present support level can bring XRP down to $2.22–$2.25 intra-day.

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