96% Long Liquidations, Yet Full Buy?...Binance Whales 'Extremely Bullish' on XRP

▲ XRP/AI-generated image

While XRP price declined, Binance whale accounts' futures positions leaned towards 'extreme bullishness'.

According to The Crypto Basic on September 10 (local time), CoinGlass data showed that the long/short ratio for Binance XRP whale accounts recorded 2.74, classifying it as 'extreme bullishness' by CoinGlass. The long/short ratio for individual investors also indicated bullishness at 2.47. The whale position-based ratio was also long-dominant at 1.96.

However, Binance's professional investor group took the opposite direction, with their positions classified as 'extreme bearishness'. On OKX, the bullish bias was more pronounced. Both individual investors' long/short ratio at 2.55 and whale position ratio at 30.86 recorded 'extreme bullishness'. The professional investor group also showed the same bullish trend. Conversely, the whale account ratio was neutral at 1.13.

On Bybit, the long/short ratios for individual investors and whale accounts were both 3.39, indicating 'extreme bullishness'. The whale position ratio was neutral at 0.98. The professional investor group, similar to Binance, showed 'extreme bearishness'. This suggests a significant divergence in futures market direction depending on the exchange and investor type.

Significant liquidation shocks have already occurred for bullish bets. Over the past 24 hours, XRP futures liquidations totaled $7.91 million, with long positions accounting for approximately 96% ($7.62 million). Over the past 12 hours, long liquidations reached $4.95 million out of a total of $4.97 million, soaring to 99% of the total. In the preceding trading session, XRP closed at $1.38, down 1.55%.

In terms of trading volume, the sell-side slightly led. Over the past 24 hours, short trading volume was $1.92 billion, accounting for 52.78% of total futures trades. Long trading volume was $1.72 billion, representing 47.22%. Contrary to the strong long bets from whale accounts, selling pressure is simultaneously observed in actual liquidations and trading volume.

[Article Key Summary]

-Binance XRP whale accounts recorded an 'extreme bullish' long/short ratio of 2.74.

-Long positions accounted for approximately 96% of the $7.91 million in XRP futures liquidations over the past 24 hours.

-OKX whale position ratio surged to 30.86, but short volume held dominance at 52.78% of trading volume.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*