What Will the Price of XRP Be in the Coming Days? "Strong Price Volatility..."

The cryptocurrency analytics company CryptoQuant has noted the XRP market in its latest assessment. According to the company’s analysis based on Binance’s futures data, speculative movements in XRP are on the rise again. This situation is believed to be a precursor to a strong price volatility. The open interest volume of XRP once reached an all-time high of $1.5 billion. However, this figure has decreased to $530 million, leading to the liquidation of leveraged positions. According to CryptoQuant, the open interest volume has increased again in recent days, indicating a resurgence of trader interest and the market may witness higher volatility. Another important indicator in the report, the funding rate, is crucial when analyzing market direction. The funding rate turning negative during the correction indicates that excessive short positions have been opened and a potential short selling has been prepared. Currently, the rate is at a neutral level, indicating a balance between buyers and sellers. However, the decrease in the funding rate while short positions are increasing behind the scenes suggests mounting pressure on XRP prices and a slight short selling is underway. On the other hand, according to analysts, the Taker Buy/Sell ratio on Binance is 0.91. This indicates strong selling pressure in the market. CryptoQuant claims that retail investors are actively opening short positions, while prices remain strong and selling pressure is being absorbed in the market. This situation is seen as an initial signal indicating the possibility of a price increase.