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Deribit Exchange Data Reveals Bullish XRP Bets Despite May’s Indecisive Price Action
Deribit Exchange Data Reveals Bullish XRP Bets Despite May’s Indecisive Price Action
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Deribit exchange News -
XRP, the cryptocurrency utilized by Ripple for cross-border transactions, concluded May with a classic ’doji’ candlestick—a technical indicator denoting market indecision. However, derivatives activity on Deribit shows sustained bullish sentiment among traders.
The doji formation, characterized by a long upper wick reaching $2.65 before rejection, indicates exhaustion in the rally from April’s $1.60 lows. Despite this, open interest remains tilted toward call options, reflecting persistent upside expectations. This divergence between spot price hesitation and derivatives Optimism sets the stage for potential volatility in June.
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Deribit Exchange Data Reveals Bullish XRP Options Activity Despite Market Indecision
