According to new insights shared by CryptoQuant, XRP may be gearing up for a major move, as Binance futures data reveals a market structure favoring bulls despite aggressive selling pressure.
XRP’s Open Interest (OI) — the total value of outstanding futures contracts — recently plunged from an all-time high of $1.5 billion to $530 million, wiping out a large number of leveraged traders in the process.
However, OI is now rising again alongside price, indicating a return of speculation and risk appetite, potentially setting the stage for increased volatility.
Funding Rates and Market Sentiment
During the correction, funding rates dipped negative, signaling excessive short positions and sparking a short squeeze. As of now, funding is neutral, showing a temporary balance between bulls and bears. However, short positioning continues to grow while funding remains subdued — a combination that often builds upward momentum if price remains stable or climbs.
Taker Data Points to Absorption
Binance’s Taker Buy/Sell Ratio sits at 0.91, meaning market selling is dominating. Retail traders are heavily shorting, but despite this pressure, XRP’s price is holding firm.
This suggests that buyers may be absorbing the sell-side aggression, a classic accumulation signal that can precede a breakout.
Final Take: Bullish Setup in the Making?
The latest Binance data paints a picture of a market where aggressive sellers are being quietly overpowered. With Open Interest climbing, shorts building, and price showing resilience, XRP could be in the early stages of a bullish breakout — especially if this silent accumulation continues.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/xrp-price-primed-for-breakout-binance-data-suggests-strong-absorption/