Recent data from Binance reveals a potential breakout in the making for XRP. Open Interest, the total value of outstanding futures contracts, recently plummeted to $530 million, wiping out many leveraged traders. This decline was followed by a rise in Open Interest alongside price, suggesting increased speculation and risk appetite. 💰 This trend coincides with funding rates falling into negative territory during the correction, signifying excessive short positions and a subsequent short squeeze. Funding is now neutral, but short positioning continues to grow while remaining subdued. Taker Buy/Sell Ratio on Binance, at 0.91, highlights strong selling pressure by market participants. Despite this intense selling pressure, XRP’s price remains firm, hinting at the potential for buyers to absorb these aggressive sell-offs. 📈 This suggests that a bullish signal may be emerging in the form of accumulation, which could pave the way for a breakout in the coming days. 🗓️