XRP witnesses increased demand and bullish sentiments as Bitrue sees a spike in its XRP futures holdings to $800 million in just two days. Bitrue, a prominent crypto exchange, has witnessed a remarkable surge in XRP Futures holdings by users of its platform, with the total value spiking by over 300% over the past two […] The post Bitrue Users Hold $800M Worth Of XRP, with 88% of Users in Long Positions first appeared on The Crypto Basic.

Bitrue Users Hold $800M Worth Of XRP, with 88% of Users in Long Positions

XRP witnesses increased demand and bullish sentiments as Bitrue sees a spike in its XRP futures holdings to $800 million in just two days.

Bitrue, a prominent crypto exchange, has witnessed a remarkable surge in XRP Futures holdings by users of its platform, with the total value spiking by over 300% over the past two days.

In a recent email to its users, Bitrue disclosed that the notional value of open interest on its platform skyrocketed from under $200 million to $800 million in just two days. Furthermore, 88% of Bitrue users had taken long positions on XRP, indicating a strong bullish sentiment.

Cowboy Crypto, a Texas-based XRP community influencer,  drew  public attention to the email in a recent tweet.

Image Source: https://twitter.com/cowboycrypto313/status/1681071716087332866

A chart shared by Bitrue shows that the notional value of open interest on the platform had declined to a value of less than $200 million from Jul. 3 to Jul. 13. However, the exchange observed an uptick from Jul. 14 following the ruling on the Ripple vs. SEC case. 

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