Compass Investments

– XRP investors have made more than $500 million in the past 48 hours.

Short-term holders are responsible for much of the selling after the CME announced XRP futures.

XRP could fall nearly 20% to $2.62 as bulls show signs of exhaustion. Potential. Ripple’s

XRP fell 3% in early trading on Friday as blockchain and technical indicators show bulls are losing momentum

XRP fell 3% in early trading on Friday as U.S. President Donald Trump signed the Presidential Task Force on Digital Assets. Despite the positive developments surrounding the signing of the executive order creating the Presidential Task Force on Digital Assets, the cryptocurrency showed no signs of recovery.

According to Eleanor Terrett of Fox Business, the Chicago Mercantile Exchange (CME) has not decided to launch a futures contract on XRP. This disappointment could be the reason for the market weakness.

the news caused a wave of negative sentiment in the XRP community, which was waiting for the launch to confirm the possible approval of the Securities and Exchange Commission (SEC) XRP ETF.

as a result, the token has continued to strengthen, and in the last 48 hours investors have made a profit of $ 500 million.

Realized gains were driven by potential selling activity from short-term holders, as evidenced by small jumps in turnover over 90, 180 and 365 days of hibernation.

additionally, XRP’s open interest (OI) growth has stalled over the past few days, reaching up to 2.14 billion XRP from an all-time high of 2.34 billion XRP. Open interest is the total number of open contracts in the derivatives market; a decline in OI indicates that traders are closing positions.

Despite the decline in OI, XRP bulls still dominate the spot market after net outflows increased on Binance and Kraken last week. dominate the spot market. dominate the spot market. However, Coinbase and Bitstamp saw inflows.

outflows on crypto exchanges mean that buying is dominating, while inflows are the opposite.

According to Coinglass, $10.06 million in XRP has been liquidated in the last 24 hours. liquidated. Long transactions in the remittance-based token totaled $7.69 million, while short transactions totaled $2.37 million.

XRP’s bullish strength is showing signs of weakness after a doji (indecisive) candle appeared on Wednesday. This candle shows that the opening and closing prices of the asset are almost identical, indicating a possible trend reversal.