XRP Futures Market Signals Bullish Continuation

The XRP futures market on Binance has been analyzed by crypto analyst CW (@CW8900), who posted his findings on April 18. According to him, the data suggests that XRP is 'taking a break,' not reversing.

One key metric that supports this view is the stable open interest figure of around 289-290M during the recent price dip. This indicates that traders are not panicking and liquidating their positions, which would lead to a sharp drop in open interest.

The net longs position sat at roughly +48.59M, which CW considers a bullish signal as it shows that bearish conviction is almost absent in the futures market.