XRP trades at $1.06, down 2.9% in 24 hours, with high derivatives open interest ($2.43B) outpacing spot volume ($361M), making the market fragile. Bitcoin's direction post-Fed meeting will heavily influence XRP's outcome, with key support at $1.05 and $1.00.
XRP's open interest has surpassed $2.4 billion, increasing by $125 million in a week as traders boost derivatives exposure. The token trades near $1.13, requiring a daily close above $1.18 to confirm a stronger price expansion towards $1.26, with derivatives poised to amplify future moves.
XRP's market has stabilized after a leverage washout, but now faces a test of real demand from ETF and spot buyers. While futures activity has decreased, sustained growth requires these new buyers to absorb supply without rebuilding excessive leverage.
Bitcoin nears $63,195 after a 6.6% weekly gain, recovering from last week's selloff. The next challenge is proving sustained buyer demand beyond short-covering and leverage, with ETF inflows and spot volume needing to hold, and the $61k-$62k area needing defense.
Binance's euro-denominated trading accounts for only 1% of its global spot volume, potentially limiting the impact of MiCA licensing setbacks in Europe, where the exchange faces uncertainty over its application.
Bitcoin chases $80,000 as rising spot volumes and futures open interest suggest the market has shifted back in the bulls’ favor.
Bitcoin rebounded above $76,000 on Tuesday as spot demand on Coinbase showed a second week of bullish volume trends. The aggregated spot cumulative volume delta rose to $517 million from $55 million on April 17, with BTC absorbing selling pressure while maintaining an upward CVD slope. Analysts note the Coinbase premium at 0.05 signals demand strength, and a move toward $85,000-$88,000 in May is possible if conditions remain unchanged.
