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Crypto Express

07/11 01:29

XRP Spot accumulates, perpetuals stay bullish



Spot traders have switched from selling to accumulating, aligning with the long-term stance of whales.

On the 9th of July, spot investors offloaded $27.76 million worth of XRP. However, the following day, they made a net purchase of $2.45 million, according to CoinGlass.

The XRP acquired in these transactions has been moved to private wallets, further confirming investors’ long-term outlook.

Similarly, in the Perpetual Futures market, bullish sentiment persists.

The Open Interest Weighted Funding Rate remained in positive territory at 0.0091%, a level it has held since the 28th of June.This suggests that perpetual traders are favoring long positions over shorts. If this trend continues, it could further strengthen the growing bullish momentum, pushing XRP higher in the coming sessions.Screenshot_987-768x233.png

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