The open positions of XRP contracts have broken through 800 million US dollars

The open interest of XRP futures contracts has more than doubled in the past 7 days, indicating that investors' expectations for its future price fluctuations have increased. Data from CoinGlass shows that the open interest of XRP contracts reached $821 million, reaching a level since mid-April, with a 24-hour increase of 22.85%. According to data from CoinGecko, during this period, the trading volume of XRP soared from $2 billion to $3.6 billion. In addition, data from Coinalyze shows that over 60% of the XRP futures contracts opened in the past 24 hours are long bets.