CandleFocus XRP sees bullish momentum following $123 million increase in open interest
2024-11-08
Author: Content Editor
Ripple's XRP has seen a 3% increase in value as investors show greater buying pressure in spot and futures exchanges. XRP exchange reserves on Binance and Upbit have decreased, indicating increased buying pressure. XRP's futures open interest has also risen by $123 million, suggesting investors expect the upward trend to continue. However, XRP's weighted sentiment has fallen below the neutral level, indicating negative or low social media sentiment. Ripple's CEO expressed hope that Democrats will hold the SEC Chair accountable. XRP is currently trading near $0.5560 and faces resistance at $0.5608. The RSI is above the neutral level, indicating increased bullish momentum. A close below $0.4860 would invalidate the bullish thesis.
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