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**1.4 Billion XRP in Open Interest, Sell-Off Finally Over?**
The recent sell-off in the XRP market might have passed, particularly since there is no imminent death cross for XRP. This has led to speculation about whether bullish sentiment has returned.
According to CoinGlass data, it appears that many market participants are now active in the Bitget exchange ecosystem. In fact, Bitget accounted for 29.38% of the total open interest, with an astonishing 412.38 million XRP worth $901.97 million being traded on this platform alone.
Notably, other exchanges such as Binance and Gate.io also saw significant trading activity. Binance registered 287.56 million XRP worth $629.32 million in open interest, while Gate.io had 275.46 million XRP worth $603.24 million. Bybit accounted for 241.94 million XRP valued at $529.84 million.
The substantial increase in trading volume has sparked hope that the cryptocurrency may be able to reclaim previous highs. Experts believe that a significant leap in trading volume could support this upward trajectory, potentially leading to new highs.
It remains to be seen if these developments will indeed materialize and propel XRP’s price forward.
Source: https://u.today/14-billion-xrp-in-open-interest-sell-off-finally-over
