XRP is rising while shorts pile up – Here’s how bulls are absorbing it
리플 [XRP]’s recent performance has been a major concern for investors, as the asset continues to surge while activity, particularly in the perpetual market, shows a bearish presence.
The major concern stems from the growing Spot Cumulative Volume Delta, which has shown an excessive short-selling volume. Between the 16th and the 27th of September, the CVD grew from -$2. 27billion to roughly -$2. 70billion.
This suggested that the CVD had expanded by $430million within that period. Binance traders’ activity also fed into the CVD, as 거래소 volume moved from -$1. 0billion to roughly -$1. 2billion. Within that period, the price has returned roughly 5. 00% in value.
One of the major factors that has contributed to the price maintaining an upward motion in the past couple of days against the selling volume in the perpetual market has been Spot investors.
According to Coin Glass, the Spot netflow, which tracks Spot investors’ movement of an asset into and out of exchanges, suggests there’s been more of the latter recently.
More outflow often suggests that investors are moving capital into private wallets for long-term holding.
In the past 24 hours, that capital has soared to -$17. 11million, and in the last seven days, the figures stood at -$60. 33million.
Continued Spot accumulation against the selling volume helps keep the price intact, as it often absorbs the majority of the selling pressure that comes from the perpetual market.
The Funding Rate has been another factor that has helped maintain the price outlook. From the 16th of September to press time, the Funding Rate has stayed positive.
It suggests the majority of the capital in the perpetual market is positioned in favor of a long move, as the Funding Rate within that period grew from 0. 0062 to 0. 0081.
Overall, XRP is likely to maintain the bullish outlook if there is continued Spot accumulation alongside the Funding Rate remaining positive without going through an overheating period.
Olayiwola Dolapo is a 암호화폐 Research Analyst at AMBCrypto, driven by a mission to make the digital asset space more transparent and understandable for all. His journey was catalyzed by an early experience in the market that underscored the importance of deep, foundational knowledge—a principle that now guides his professional work.
출처: AMBCrypto