{"id":625542,"date":"2024-06-20T06:00:18","date_gmt":"2024-06-20T06:00:18","guid":{"rendered":"https:\/\/ktsl888.com\/?p=625542"},"modified":"2024-07-10T11:03:33","modified_gmt":"2024-07-10T11:03:33","slug":"sec-drama-fuels-xrp-rally-open-interest-skyrockets","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/sec-drama-fuels-xrp-rally-open-interest-skyrockets\/","title":{"rendered":"SEC Drama Fuels XRP Rally: Open Interest Skyrockets"},"content":{"rendered":"<p data-sourcepos=\"3:1-3:68\">The bitcoin XRP is generating waves as open interest (OI) for the token shows a clear surge. This shift in investor mentality fits the ongoing legal fight between US Securities and Exchange Commission (SEC) and XRP&#8217;s producer, Ripple Labs.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/whales-dump-over-1-billion-in-bitcoin-fire-sale-or-foreshadowing\/\" target=\"_blank\" rel=\"noopener \">Whales Dump Over $1 Billion In Bitcoin: Fire Sale Or Foreshadowing?<\/a><\/div>\n<h2 data-sourcepos=\"5:1-5:31\"><strong>Bullish Bets On The Horizon<\/strong><\/h2>\n<p data-sourcepos=\"7:1-7:113\"><span id=\"input-sentence~1\">XRP&#8217;s open interest on CryptoQuant&#8217;s platform for bitcoin research showed a clear surge, implying a growing investor count joining ranks. Investors predicting a future <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/667140b593c30073780d6722-XRP-in-the-Spotlight?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=quicktake&amp;utm_content=woominkyu\" rel=\"nofollow\">price increase<\/a> for XRP point to a good attitude displayed in this trend.<\/span><span id=\"input-sentence~2\"> The simple justification is that as more buy-order entering players join the market, the price often rises.<br \/>\n<\/span><\/p>\n<figure id=\"attachment_625543\" aria-describedby=\"caption-attachment-625543\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-625543 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_2b2650.png?resize=1024%2C581\" alt=\"\" width=\"1024\" height=\"581\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_2b2650.png?w=1030 1030w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_2b2650.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_2b2650.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_2b2650.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_2b2650.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-625543\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/667140b593c30073780d6722-XRP-in-the-Spotlight?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=quicktake&amp;utm_content=woominkyu\" target=\"_blank\" rel=\"noopener nofollow\">CryptoQuant<\/a><\/figcaption><\/figure>\n<p data-sourcepos=\"9:1-9:329\"><span id=\"input-sentence~2\">Investor confidence seems to be rising from recent developments in the SEC complaint, which charges Ripple of marketing unregistered securities in XRP.<\/span><span id=\"input-sentence~3\"> For instance, a recent court ruling might have clarified the legal classification of XRP, therefore opening the path for a better result for Ripple.<br \/>\n<\/span><\/p>\n<h2 data-sourcepos=\"11:1-11:45\"><strong>Volatility Ahead: Potential Market Swirls<\/strong><\/h2>\n<p data-sourcepos=\"13:1-13:66\"><span id=\"input-sentence~3\">Although the rise in open interest is encouraging for <a href=\"https:\/\/coinmarketcap.com\/currencies\/xrp\/\" rel=\"nofollow\">XRP<\/a> enthusiasts, CryptoQuant issues a warning about possible market instability just around.<\/span><span id=\"input-sentence~4\"> One can consider rising open interest as a two-edged blade. Although it might sometimes cause more volatility, it shows more market activity.<br \/>\n<\/span><\/p>\n<figure style=\"width: 2475px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/CbZq7BAJ\/\" alt=\"\" width=\"2475\" height=\"1163\"><figcaption class=\"wp-caption-text\">XRP market cap at $27 billion on the daily chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p data-sourcepos=\"15:1-15:341\"><span id=\"input-sentence~4\">One way to think about markets with a lot of open interest is as a busy intersection.<\/span><span id=\"input-sentence~5\"> The more you do, the more opportunities you&#8217;ll have, but the more likely it is that things will shift unexpectedly. Similar to how drivers need to be extra careful at a busy intersection, investors in a market with a lot of open interest should be prepared for volatility, as new information or shifting market sentiment may require them to quickly change their positions.<\/span><span id=\"input-sentence~6\"><br \/>\n<\/span><\/p>\n<p data-sourcepos=\"17:1-17:266\"><span id=\"input-sentence~6\">This possible volatility emphasises for XRP investors the need of prudence. Although the present trend points to hope, it is important to keep in mind that the result of the SEC action is yet unknown and the wider bitcoin market is by nature erratic.<\/span><span id=\"input-sentence~7\"><br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/analysts-bullish-call-bitcoin-primed-for-massive-jump-to-127000\/\" target=\"_blank\" rel=\"noopener \">Analyst\u2019s Bullish Call: Bitcoin Primed For Massive Jump To $127,000<\/a><\/div>\n<h3 data-sourcepos=\"19:1-19:34\"><strong>XRP Price Prediction<\/strong><\/h3>\n<figure id=\"attachment_625546\" aria-describedby=\"caption-attachment-625546\" style=\"width: 921px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-625546 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_f2e6f7.png?resize=921%2C262\" alt=\"\" width=\"921\" height=\"262\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_f2e6f7.png?w=921 921w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_f2e6f7.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_f2e6f7.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_f2e6f7.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/A_f2e6f7.png?w=750 750w\" sizes=\"(max-width: 921px) 100vw, 921px\"><figcaption id=\"caption-attachment-625546\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/coincodex.com\/crypto\/ripple\/price-prediction\/\" target=\"_blank\" rel=\"noopener nofollow\">CoinCodex<\/a><\/figcaption><\/figure>\n<p data-sourcepos=\"25:1-25:160\"><span id=\"input-sentence~7\">By July 19, 2024, XRP is<a href=\"https:\/\/coincodex.com\/crypto\/ripple\/price-prediction\/\" rel=\"nofollow\"> expected to climb<\/a> by 21% to hit $0.602. Though this is an encouraging prediction, traders should use care as the present market attitude is bearish.<\/span><span id=\"input-sentence~8\"> Notwithstanding the general caution, the Fear &amp; Greed Index at 64 indicates a condition of greed, implying good market activity and purchasing demand.<br \/>\n<\/span><\/p>\n<p>XRP has witnessed 14 green days, or 47% of the total in the past thirty days, suggesting modest positivity. For a cryptocurrency, the price volatility over this period has been 3.67%, really modest.<\/p>\n<p data-sourcepos=\"25:1-25:160\"><em>Featured image from Search Engine Land, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bitcoin XRP is generating waves as open interest (OI) for the token shows a clear surge. This shift in investor mentality fits the ongoing legal fight between US Securities and Exchange Commission (SEC) and XRP&#8217;s producer, Ripple Labs. Related Reading: Whales Dump Over $1 Billion In Bitcoin: Fire Sale Or Foreshadowing? Bullish Bets On The Horizon XRP&#8217;s open interest on CryptoQuant&#8217;s platform for bitcoin research showed a clear surge, implying a growing investor count joining ranks. Investors predicting a future price increase for XRP point to a good attitude displayed in this trend. The simple justification is that as more buy-order entering players join the market, the price often rises. Investor confidence seems to be rising from recent developments in the SEC complaint, which charges Ripple of marketing unregistered securities in XRP. For instance, a recent court ruling might have clarified the legal classification of XRP, therefore opening the path for a better result for Ripple. Volatility Ahead: Potential Market Swirls Although the rise in open interest is encouraging for XRP enthusiasts, CryptoQuant issues a warning about possible market instability just around. One can consider rising open interest as a two-edged blade. Although it might sometimes cause more volatility, it shows more market activity. One way to think about markets with a lot of open interest is as a busy intersection. The more you do, the more opportunities you&#8217;ll have, but the more likely it is that things will shift unexpectedly. Similar to how drivers need to be extra careful at a busy intersection, investors in a market with a lot of open interest should be prepared for volatility, as new information or shifting market sentiment may require them to quickly change their positions. This possible volatility emphasises for XRP investors the need of prudence. Although the present trend points to hope, it is important to keep in mind that the result of the SEC action is yet unknown and the wider bitcoin market is by nature erratic. Related Reading: Analyst\u2019s Bullish Call: Bitcoin Primed For Massive Jump To $127,000 XRP Price Prediction By July 19, 2024, XRP is expected to climb by 21% to hit $0.602. Though this is an encouraging prediction, traders should use care as the present market attitude is bearish. Notwithstanding the general caution, the Fear &amp; Greed Index at 64 indicates a condition of greed, implying good market activity and purchasing demand. XRP has witnessed 14 green days, or 47% of the total in the past thirty days, suggesting modest positivity. For a cryptocurrency, the price volatility over this period has been 3.67%, really modest. Featured image from Search Engine Land, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":625548,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,3680,3799,4531,10972],"class_list":["post-625542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-ripple","tag-sec","tag-xrp","tag-xrpusd"],"acf":[],"yoast_head":"\n<title>SEC Drama Fuels XRP Rally: Open Interest Skyrockets<\/title>\n<meta name=\"description\" content=\"The bitcoin XRP is generating waves as open interest (OI) for the token shows a clear surge. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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