XRP open interest rates over $ 1B as EYEE CHARTOUT prices

The XRP trades of $ 2.58, marking almost 20% gain in the past week because the open interest rose more than 40%.

This 20% weekly increase sets it in front of a wider cryptocurrent market market, which has seen 13% compared to the same period. The price in the price is harmonized by a sharp increase in the activity of the derivative.

In just one week, futures open interest in XRP (XRP) has been increased from $ 2.42 billion to $ 3.42 billion, according to 13. May in the post on X from Glostenode. This billion billions of dollars, or 41.6% increase shows the growing inflow of capital and increased speculative activity, suggesting that traders position for a great move.

Open interest refers to the total number of active futures contracts that have not yet been resolved. When the open interest in the price is usually reflected, the new money entering the market, not a short or first position. In accordance with the latest interruption of prices, this form suggests that traders have a strong oriented conviction in the KSRP.

This feeling is supported by the technical appearance of XRP. The address is traded primarily by short-term and long-term movable average, including 10-day, 50-day and 200-day average. The price continued to exceed the momentum indicators show that the pressure continues to grow without reaching the level of overheated levels.

At 68, the relative strength index approaches, but has not yet passed the transmission zone, indicating that there is still potential for the current trend to continue. Other important indicators, such as a movable average convergence of divergence, indicates the continuation of movement upwards.

In addition to the strength of the chart, institutional demand It seems to grow. XXRP ETF, which offers institutional investors with exposure to KSRP, video is an inflow of five weeks in a row. The fund brought $ 14 million last week, according to $ 10 million in the previous week, according to data from ethf.com. The total funds under the administration now amounts to over $ 99 million.

This was noted given that its 1.89% annual management fee almost twice as much as some famous bitcoin (Btc) ETFS. Despite this, the interest of investors is still high, suggests that there are greater demand for products related to KSRP.

This increase in demand coincides with the installation speculation This video XRP ETF will soon approve American securities and programming. Platforms such as Polimarket now show that the odds for approval is 80%. According to JPMorgan analysts, the CSRP inflow of ETF could reach $ 8 billion in the first year, outweigheth Etherum (El) ITF inflow from their approval in September 2024. Years.

Due to its strong technical structure, growing institutional interest and rise open interest, KSRP is ready for a significant interruption if current trends continue.