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XRP price prediction – Despite bullish metrics, traders still face THESE volatility risks!
Despite the recent surge in XRP’s price, analysts are warning of potential volatility risks ahead. The cryptocurrency has gained 52% since January 1st, with whales accumulating more than 1.4 billion XRPs over the last two months, a 35% hike in demand.
While this momentum might be tempting for traders to jump on board, it’s essential to consider the mixed signals emanating from various metrics.
Firstly, the number of deposits into exchanges has decreased lately, indicating reduced selling pressure and potentially less likelihood of an imminent wave of selling. Conversely, open interest on XRP futures/perpetual contracts has increased dramatically over this period.
The rising leverage ratio (ELR) metric serves as a warning signal to traders. This is because it indicates that participants are engaging in greater leverage trading, often characteristic of strong uptrends. The ELR metric surged after XRP broke past the $3 mark.
It’s crucial for investors to take heed of this increase in estimated leverage ratio, as it may lead to heightened volatility and potential losses.
Source: ambcrypto.com
