Analyst: XRP's open interest is nearly $5 billion, which may trigger a short covering rally

ChainCatcher news, according to CoinDesk, the current price of XRP is about $2.20, with open interest surging to nearly $5 billion, indicating a high level of speculative sentiment in the market. Bitget analysts point out that XRP is currently in a narrow trading range, and if a catalyst occurs, it could trigger a rapid rise and lead to short covering. However, if market sentiment weakens, high leverage could also trigger large-scale liquidations.