BEAR12d ago
XRP Futures Shed 864M Contracts: Flush or Trap?
Over 864 million XRP in futures open interest was closed across Binance, Bybit, and Bitfinex in a single period, marking one of the sharpest multi-venue position purges in recent memory. Blackperp's engine flags extreme long-side cascade risk with 138.9% of OI exposed, annualized funding at +1095%, and key support at $1.34 and $1.30. The market has cleared leverage — whether it refills bullishly or continues lower depends on the next directional catalyst.
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