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XRP Key Insights
The latest XRP news shows that OSL Hong Kong has opened XRP transactions to retail users, and local users can buy and sell XRP through US dollar and Hong Kong dollar trading pairs. XRP prices rose at the same time as open interest fell, indicating that many short traders were leaving the market. Despite the recent price rise, some analysts still believe that Ripple will perform weakly in a higher time frame. Since OSL Hong Kong launched retail XRP transactions on July 29, XRP news has once again become the focus. The move provides ordinary investors in Hong Kong with a regulated channel to buy and sell tokens. At the same time, XRP prices rose despite a decrease in open interest, while some traders still believe that Ripple is weak on large-cycle charts.
XRP News: OSL Hong Kong opens retail XRP trading
OSL Digital Securities has opened retail XRP trading in Hong Kong, becoming the first platform licensed by the Securities and Futures Commission (SFC) to provide direct spot trading to ordinary investors. The company announced that users can trade XRP/USD through Flash Trade, while XRP/USD and XRP/HKD are available through its OTC (OTC) services. All transactions are settled on the XRP ledger. This is the first time that Hong Kong retail investors can purchase Ripple through the platform. Previously, XRP trading on OSL was only open to professional investors, but the latest launch has changed this situation. The new XRP/HKD transaction is equally important to the pair, allowing users to trade directly in Hong Kong dollars without first transferring funds to overseas exchanges.
XRP News--Hong Kong OSL launches XRP trading| Source: Xaif Crypto
With this launch, XRP, Bitcoin, Ethereum and Solana have become the only digital assets on OSL approved for retail transactions. The company holds an SFC license and has been registered under Hong Kong anti-money laundering regulations. The launch comes as Hong Kong continues to promote regulated digital asset services. Although U.S. lawmakers are still developing cryptocurrency rules, Hong Kong has continued to add licensed products to retail users.
XRP prices rise when open interest falls
The latest trend in XRP prices raises questions because open interest moves in the opposite direction. CryptoQuant certified author and analyst CW said open interest falls when prices rise. According to the analyst, this shows that many short traders are unwinding their positions after recent price increases.
XRP Open Interest Outlook| Source: CW
When a trader who expects a price decline closes his position, the market can continue to rise without increasing open interest. This is different from the rally driven by buying new futures. Currently, the data points to short sellers leaving, rather than a large number of new positions being opened. This does not automatically mean that prices will turn lower, but only suggests that the recent trend is supported by loss-making traders closing positions rather than strong growth in futures activity.
XRP prices remain weak on large-cycle charts
Even with recent gains, not everyone believes the market has reversed. Cryptocurrency influencer Carl Hawley said on the X platform that XRP prices are still weak over higher time frames. Charts shared by Carl show that XRP is more oversold than when the market crashed in 2020 and is still about 72% below its all-time high.
XRP Price Analysis| Source: Carl Hawley
According to XRP News, Hawley said the market may be approaching important nodes. The current pattern could mean sellers are finally giving up, or it could be the beginning of a stronger recovery. He added that clearer signals will be given in the coming weeks. Currently, Ripple is receiving new support due to its new retail listing in Hong Kong. The regulated launch will give more people access to the asset through licensed exchanges, but traders will also continue to pay attention to price movements and open interest contracts. Confidence may increase if buying continues and market activity improves. Otherwise, many traders may wait for a stronger signal before expecting a bigger move.
