According to data provided by Coinglass, Binance users are An overwhelmingly long XRP.
67.6% of the accounts are on the longest side of trade. Long/Ratio is currently 2.09.
The same applies in particular to top traders on exchanges who are in the top 20% of Binance users due to margin balance.
This is not the case with Bitcoin. The largest cryptocurrencies are currently shorted by almost 55% of Binance accounts.
Overall, however, the bullishness is limited to several other trading platforms, such as Binance and Bitmex, as a small majority of traders (51.32%) still bet on tokens related to ripples.
XRP’s open profit, which represents the total number of open derivative contracts, currently reaches $3.15 billion, after a decline of more than 4% in the last 24 hours.
Over the past 24 hours, approximately $4 million worth of XRP has been liquidated. The long position constitutes the share of the lions in liquidation (61.5%).
On press, XRP increases by 1.18% in Binance exchange and changes hands at $2.15. Today, cryptocurrency reached its daytime high of $2.16.
The tokens recovered about 25% after plunging to a months-long low of $1.6 on April 7 amid a wider market sale driven by macroeconomic uncertainty.
