XRP Records 20% Weekly Gain Amid Increased Trader Activity

XRP has gained 20% over the past week, trading at $2.54 after a 2% decline in the last 24 hours. The asset shows resilience above recent lows and increasing trader interest.

Analysis indicates potential accumulation of XRP on Binance amid rising speculative interest.
The market is seeing a resurgence in leveraged trading positions following a drop in open interest.
Open interest rebounded from $530 million to a higher range, suggesting recovery in market confidence.
Funding rates turned negative during XRP's correction, indicating short positions that could lead to a possible short squeeze.
The current funding rate is neutral, signaling balance between bullish and bearish positions.
XRP's Taker Buy/Sell Ratio is 0.91, indicating selling pressure but no significant price declines, suggesting absorption by larger players.

The combination of rising open interest, neutral funding rates, and stable prices despite selling pressure points towards possible silent accumulation of XRP. Market participants should monitor these signals for indications of trend reversal or breakout.