XRP Option Data Indicates an Increase: Record Increase in Open Positions! - Coin Bulletin

With the price rally of XRP, the trading activity in the cryptocurrency derivatives markets is also showing a significant increase.

Analysts say that derivative data suggests investors are bullish on XRP.

Nansen Research analyst Nicolai Sondergaard noted, based on XRP option data, that investors have been leaning towards call options more. Sondergaard said, 'The put-call ratio being below 1 proves that there is more interest in call options compared to put options.' However, the analyst added that an increase in the put-call ratio indicates that investors are protecting their long positions with put options.

Record Open Position in XRP Futures Market

The open position ratio in the XRP futures markets reached record levels this week. According to Coinglass data, XRP's open position volume has increased by 46 percent to reach 7.6 billion dollars since Monday. This is the highest open position level recorded by Coinglass to date.

This increase in open positions indicates that investors are expecting significant movements in XRP price. Such volume increases are often seen as a trend before a significant change or news flow in the markets.

Volatility and Liquidations in the Market

Fluctuations in the XRP price have led to significant liquidations in the past 24 hours. A total of 31 million dollars worth of XRP positions were liquidated.

Of the $16 million, $15 million came from long positions and $1 million came from short positions. According to Coinglass data, the equal distribution of liquidations indicates that the market is in a two-way indecisive state and investors are reacting to rapid price movements.