Short position accumulation drives XRP open interest recovery over the past week

Ripple’s XRP is mostly avoided by retail traders, but it is becoming a competitive field between whales and professional traders. In the past week, open interest recovered by 30% in a battle between bearish derivative positions and bullish whale buyers. XRP open interest rose from $1B to around $1.3B in the span of a week, showing a fast recovery after the latest market downturn. XRP traded at around $1.32, after bouncing with the rest of the market. The asset has been trading in a relatively small range and is almost forgotten by retail. At the same time, whales and derivative traders have taken over, with regular price swings and significant liquidations.

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