Analyst: XRP open contracts close to $5 billion, may trigger short covering market According to CoinDesk, the current price of XRP is around $2.20, and open contracts have surged to nearly $5 billion, indicating a high level of speculative sentiment in the market. Bitget analysts pointed out that XRP is currently in a narrow range of volatility, and if a catalyst appears, it may trigger a rapid rise and trigger short covering. However, if market sentiment weakens, high leverage may also trigger large-scale consolidation.