XRP News Today: XRP Price Surges 3.80% Amid Renewed Buyer Absorption

Data from Binance indicates that XRP sellers have intensified their selling pressure, prompting buyers to absorb the increased sales. This pattern suggests a silent accumulation of XRP, which market experts interpret as an early indicator of a potential bullish breakout.

CryptoQuant's market experts analyzed Binance futures data, revealing active speculation for XRP. This trend is expected to pave the way for a significant price movement. The month began with the Open Interest rate reaching an all-time high of $1.5 billion, followed by a sharp decline to $530 million, which led to the liquidation of leveraged positions.

With Open Interest rising again, experts believe that trader interest has been renewed, although this also implies that volatility is imminent. Additionally, when the funding rate turned negative during a correction, it indicated excess short positioning, creating conditions for a short squeeze, as noted by the analyst.

Currently, the funding rate is neutral, suggesting an equal balance between long and short positions. However, CryptoQuant’s market expert pointed out that short positions are increasing while funding is decreasing. This dynamic is pushing XRP prices upward, further signaling a potential "mild squeeze."

Analyzing the recent bullish signals in the XRP market, the analyst highlighted that the Taker Buy/Sell Ratio on Binance is 0.91, indicating strong market selling. Retail traders appear to be shorting aggressively. If this selling pressure continues but the price remains stable, it suggests that absorption is likely taking place—a potential bullish sign.

The simultaneous rise in Open Interest and XRP price indicates a return of market speculation. Meanwhile, neutral funding suggests that market players are somewhat indecisive. The stability in XRP’s price, despite taker sell pressure, further indicates that sellers are likely being absorbed.

With XRP maintaining momentum above the $2 price mark and 24-hour gains at 3.80%, the altcoin is trading at a press time price of $2.58, approaching its 72-hour high of $2.63.