Analyst: XRP Open Interest Nears $5 Billion, Potentially Triggering Short Squeeze

According to ChainCatcher, as reported by CoinDesk, the current price of XRP is approximately $2.20, with open interest surging to nearly $5 billion, indicating a highly speculative market sentiment. Bitget analysts point out that XRP is currently in a narrow fluctuation range, and if a catalyst appears, it could trigger a rapid rise and lead to short covering. However, if market sentiment weakens, high leverage could also trigger large-scale liquidations.