76% $XRP traders choose to go long: Good news for the altcoin? - AMB Crypto Analytics

Irma - Oct 6 - - Dev Community

XRP traders on Binance increased their long positions, with 76.54% betting on a price rise, despite XRP struggling near the $0.52 support level. At the time of writing, XRP was trading at $0.529, down 0.65% in 24 hours, while trading volume dropped by 50%.

Positive on-chain metrics suggest bullish sentiment, as XRP’s Futures Open Interest rose 2.3%, and the Funding Rate was at +0.0097%, indicating traders are favoring long positions. Major liquidation levels stand at $0.519 (downside) and $0.541 (upside), with potential liquidations worth millions if these levels are breached.

XRP has been consolidating between $0.518 and $0.545. A breakout above $0.545 could push XRP to $0.65, while a drop below $0.515 might send it down to $0.455.

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