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XRP price risks extending losses despite Ripple’s expansion in the Middle East
Ripple (XRP) trades amid increasing overhead pressure on Thursday, reflecting risk-off sentiment and increasing profit-taking activities in the wider cryptocurrency market. At the time of writing, XRP trades at $2.79, down 3% for the day. Retail interest in the cross-border money remittance token has also fallen for two consecutive days, according to the futures Open Interest (OI), which averages $8.47 billion compared to $9.09 billion on Monday. OI is the notional value of outstanding futures contracts. Hence, a correction implies that traders could be losing confidence and conviction in XRP’s ability to sustain ... (full story)
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