Crypto News
XRP touched $1.69 on Aug. 22 before easing to $1.48 by Aug. 23, still up 47.77% in seven days. Its market cap was $92.95B, with $22.45B in 24-hour volume. Bitcoin also rose from $62K to $77K over the same window.
Spot XRP ETFs drew $18.38M on Aug. 21. Weekly inflows neared $40M and cumulative net inflows approached $1.55B, giving the rally a spot-demand base.
But futures open interest jumped 34.49%, or about $939M, to $3.66B, with 72.1% of accounts long. Longs accounted for 77.3% of $70.74M in 24-hour liquidations, while funding stayed positive at 0.01% every four hours. Daily RSI readings ranged from 70 to 85.4, reinforcing the overbought signal. The setup makes partial profit-taking reasonable without abandoning XRP's upside.
Frequently asked questions
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How far did XRP fall after reaching its August 22 peak?
XRP touched $1.69 on Aug. 22 and was at $1.48 by Aug. 23, while remaining up 47.77% over seven days.
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What did spot XRP ETFs add to the rally?
Spot XRP ETFs drew $18.38M on Aug. 21, weekly inflows neared $40M, and cumulative net inflows approached $1.55B.
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How quickly did XRP futures open interest expand?
XRP futures open interest rose 34.49%, or about $939M, to $3.66B over seven days.
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What share of XRP liquidations came from long positions?
Longs accounted for 77.3% of the $70.74M in 24-hour liquidations.
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Why could partial profit-taking still leave room for XRP upside?
The rally has a spot-demand base from ETF inflows, but crowded leverage increases pullback risk. Partial profit-taking retains exposure to possible further gains.
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