XRP Flashes Signal Seen Before 72% Rally as Binance Leverage Falls

XRP has flashed a deleveraging signal that previously preceded a 72% rally, according to an analysis shared by Cryptoquant. Falling futures exposure on Binance could help ease pressure and create conditions for a potential short-term rebound. XRP could be developing conditions for a short-term rebound as leveraged exposure contracted on Binance, Cryptoquant contributor Darkfost said in findings reported Oct. 27. The analyst’s XRP deleveraging signal echoed episodes that preceded past substantial gains, placing the latest contraction within a pattern he considered favorable for recovery. Binance XRP open interest had dropped to approximately $445 million, below its 180-day average of roughly $460 million. Since Sept. 22, the dollar value of outstanding positions had fallen nearly 28%, while XRP’s price declined 17% over the same period. XRP traded at $1.31 on Oct.

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