Open interest climbing from $25 billion to nearly $30 billion reflects fresh leverage entering the market — a double-edged sword that could amplify upside momentum above $112,000 but heighten liquidation risks below $110,000, an analyst noted.
The Madras High Court granted interim protection to a WazirX user, blocking the exchange from redistributing her XRP as part of its Singapore-led restructuring.
XRP surged 3% to $2.68 during Sunday’s session, breaking above the critical resistance level at $2.63 on a dramatic volume spike — one of the largest of the month.
The move comes as the BTC/gold ratio — a measure of Bitcoin’s relative value against the yellow metal — flashed its most oversold reading in nearly three years last week.
That risk sentiment across global markets. US and Asian equity futures advanced, and gold pulled back slightly from recent highs as traders rotated back into risk assets.
October has been defined by forced selling and false starts and on track to become the worst since 2015, dampening an otherwise bullish month that averages over 25% returns for bitcoin.