XRP Stays Strong Despite Market Correction
Recently, the border market has experienced a significant price pullback. However, despite the declines, traders’ interest in Ripple [XRP] continued to be remarkably strong, according to digital asset analytics source Kaiko.
Kaiko claims that the volume-to-open interest ratio for XRP on all exchanges remained higher than the average.
The increase in the volume-to-open ratio indicates that live contracts and the money flow for XRP long and short positions have sustained a level of above-average interest as two important technical measures that evaluate liquidity and activity of options and futures contracts.
Analysts feel that XRP’s continuing appeal, despite market volatility, may be evidence of its relevance because it kept attracting traders’ and investors’ attention.
(With inputs from Shikha Singh)
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