CandleFocus XRP Logs Its Highest Weekly Candle Ever, but There Are Worrying Signs
2025-01-20
Author: Content Editor
The XRP token, affiliated with Ripple, reached a weekly high of $2.95 on Binance, but fell by 14% to $2.8 on Sunday. It has since recovered slightly and is now trading at $3.1. The overall sentiment from social media and "smart money" is bearish on XRP. $32.5 million worth of XRP tokens were liquidated in the past 24 hours, with long positions accounting for 84% of the liquidations. XRP's total futures open interest has dropped by 11% to $6.69 billion. Despite the recent correction, XRP is still up more than 26% in the past week. XRP is expected to remain in the spotlight due to the buzz around potential XRP exchange-traded funds (ETFs). ProShares has filed for leveraged, inverse, and futures-based XRP ETFs.
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