XRP Liquidity Crash: Exchange Levels Mirror May 2025 Trend As Price Recovers
Cryptocurrency analyst Dom highlights that XRP's spot market liquidity has significantly declined, reaching its lowest level in nearly two years, despite a recent price recovery to $1.66. The thin order books, especially above $1, indicate that price movements are largely leverage-driven. After reaching the high, XRP experienced a 16% drop, partly due to substantial sell pressure from exchanges like Upbit, with around 50 million XRP net sold. Data shows a surge in derivatives and options trading volume, though open interest decreased and the long/short ratio suggests bearish sentiment. Another analyst, Egrag Crypto, points to a bullish technical pattern, noting potential reversal signals. At the time of writing, XRP is trading around $1.46, down over 5%.
bitcoinist02/16 19:52