XRP has pulled back roughly 5%, falling from a local high of $1.66 to around $1.57, according to analyst Cryptoinsightuk. But open interest has dropped far more sharply, down about 10% in coin terms and 15% in dollar terms, a mismatch between price and leverage. Spot volume has also risen considerably, meaning buyers are stepping in around current levels even as leveraged long positions get flushed out at a rate exceeding the price decline itself. The analyst called this a potentially encouraging sign, arguing it points to weaker, over-leveraged hands exiting the market while longer-term investors accumulate the underlying asset.
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