Binance exchange has the largest XRP open interest market with a total trading volume of 264.8 million USD. It is followed by Bybit with a trading volume of US$248.1 million, and WOO X has the smallest XRP open interest market at US$381,600.
For investors, monitoring open interest is very important as it allows them to make informed decisions. An increase in open interest usually indicates an uptrend, while a decrease in open interest indicates a downtrend. Open interest in #XRP has reached an all-time high, indicating liquidity in the market and increased trading activity in the ecosystem.
XRP is currently trading at $0.6088 per coin, up 7.3% over the past 24 hours. Trading volumes have not been immune to this growth either, rising by more than 41% to $3.7 billion. The dynamics of #cryptocurrencies emphasize the positive impact of such key indicators as open interest.
The previous U. Today report revealed that XRP has completed the formation of a golden cross on the four-hour price chart. This usually occurs when a short-term moving average, such as the daily SMA 50, crosses a long-term moving average, such as the daily SMA 200.
Read us at: Compass Investments
