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“Elevated Risk”: XRP Open Interest Soars
Despite the recent surge in XRP’s price following the announcement of its potential inclusion in a strategic crypto reserve, the cryptocurrency’s open interest has seen a significant increase. This development has raised concerns about an “elevated risk” environment for traders and investors.
According to reports, JPMorgan recently questioned the viability of adding XRP and other smaller altcoins to the crypto reserve, which could be a blow to the token’s recent gains. However, it appears that this uncertainty is not deterring investors from taking on more positions in the asset.
The sharp rise in open interest has sparked concerns about potential market volatility, as the increased leverage can amplify both positive and negative price movements. This situation may create an environment where even small changes in sentiment or market conditions could lead to significant price swings.
While some analysts argue that this surge is a natural result of XRP’s recent uptrend and the overall crypto market recovery, others are sounding alarm bells about the potential risks involved.
Source: https://u.today/elevated-risk-xrp-open-interest-soars
