💰 XRP Rebounds to $1.40 Despite 80% Drop in Binance Spot Volume
XRP is trading near $1.40 as the market recovers from a significant volatility event. Data reveals that $40.70 million in long positions were liquidated across Binance, Bybit, and OKX between October 7 and 8, flushing out traders betting on higher prices.
Despite the price recovery, Binance spot turnover plummeted by nearly 80%, falling from 252.45 million USDT to 54.12 million USDT over two days. This suggests the current price rebound lacks strong support from spot buyers on the world’s largest exchange.
Futures market data indicates a shift in sentiment as open interest begins to rebuild. Funding rates have also turned positive across major venues, meaning long position holders are once again paying shorts to maintain their exposure.
#XRP #Binance #CryptoNews #Liquidations
XRP is trading near $1.40 as the market recovers from a significant volatility event. Data reveals that $40.70 million in long positions were liquidated across Binance, Bybit, and OKX between October 7 and 8, flushing out traders betting on higher prices.
Despite the price recovery, Binance spot turnover plummeted by nearly 80%, falling from 252.45 million USDT to 54.12 million USDT over two days. This suggests the current price rebound lacks strong support from spot buyers on the world’s largest exchange.
Futures market data indicates a shift in sentiment as open interest begins to rebuild. Funding rates have also turned positive across major venues, meaning long position holders are once again paying shorts to maintain their exposure.
#XRP #Binance #CryptoNews #Liquidations