XRP derivatives activity on BitMEX surged as XRP futures volume spiked to $17.06 million, per CoinGlass data. At one point, XRP futures volume jumped 1185.33% from the prior level. The surge suggests traders adjusted positions while awaiting the next market move.
As of 5:30 PM KST on the 8th, XRP traded at $1.35, down 0.82% from the previous day. Industry reports note that price weakness ahead of the weekend aligns with a multi-month pattern. On Saturday the 7th, liquidations totaled $284 million.
Throughout the week, investors showed relative optimism compared with stocks or gold, with XRP reaching as high as $1.47 on the 4th. As prices recovered, holders who were in the red tended to realize losses at break-even, creating resistance to further gains. The combination of volatility and profit-taking helped cap gains and kept the uptrend in check.
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