$XRP

Update XRP data

From the 12-hour level contract data, there is a divergence between retail and institutional data. Institutions are mainly offloading, while retail investors are mainly buying. However, looking at the positions of the two major exchanges, there has been an increase in both, indicating that this portion of the increase includes retail chasing long positions and institutions closing long positions and opening short positions.

From the spot market perspective, looking back from the 8-hour level, institutions have actually offloaded a bit. However, this coin is largely driven by spot buying from institutions. From a larger time frame perspective, there is roughly 200 million still in hand.