The crypto market can surprise traders with sudden shifts that change what is normal. XRP is a good example. Its derivatives saw a huge jump of 62.99% in trading volume in just one day, reaching $4.52 billion, according to Coinglass.
While trading activity soared, open interest — the total amount of money tied up in futures — dipped slightly by 0.3%. This suggests most traders are focused on short-term moves rather than long-term bets. About $8.63 million in positions were closed out in this period, with 90% of these being long positions.
This shows how volatile the market has become. Ripple also recently donated $25 million in RLUSD, which was good news but didn't cause an immediate price change.
The derivatives market for XRP has seen a big jump over the past 24 hours, with trading volume almost doubling. The total traded amount hit $4.52 billion. But, at the same time, open interest shrank slightly, hinting that many traders may be looking for quick gains rather than holding longer-term positions.
One more indicator adds to this tense scene: trading liquidations. During this time, traders lost $8.63 million, mostly on long positions—$7.8 million—compared to only $835,450 on short positions.
Large price swings likely caused some traders holding long bets to get forced out of their trades. While optimism remains high, the liquidations show that the market can quickly turn against traders who are overconfident.
All these signs tell a complex story. Activity is rising, and most interest appears to be on quick, risky trades rather than stable, long-term investments.