XRP futures dey neutral as OI still high after 15% drop amid ETF buzz
XRP futures open interest dey steady for $8.8B afta price drop of 15% from $3.66 to $3.11, e don down 21% from di $11.2B peak but e don rise 48% month-to-month. Di fact say people still dey hold leveraged positions and no dey panic sell mean say market sentiment for derivative side na neutral. Monthly XRP futures dey trade with 6–8% annual premium over spot.
Activity for XRP Ledger on-chain low, only $134M tokenized assets dey and DEX volume dey small, e dey make people doubt if price fit hold pass $3 resistance. ETF talk wey come from recent US spot crypto fund approvals and ETH-based products wey get over $18B AUM don help little, but rumours wey no true about SWIFT partnership dey distort sentiment. Traders suppose watch for better on-chain adoption signs and clear ETF moves before dem add more bullish leverage as current data show say make dem cautious.
Neutral
Even though XRP price don drop 15% sharply and open interest drop $2.4B, derivatives market still dey hold strong leveraged positions at $8.8B OI, show say traders dey hold their ground no be sell anyhow. Monthly futures premiums (6–8% yearly) reflect small cautious optimism wey base on ETF talk, but low on-chain activity plus baseless partnership rumor dey limit confidence. Short term, this fit make trading dey shakey around $3 resistance. Long term, clear network adoption or credible ETF approvals go needed for bullish trend, support overall market impact to remain neutral.