In a Dec. 1 post to X, CryptoQuant analyst Maarten Regterschot noted that XRP's unpositioned squaring contracts (a measure of unpositioned squaring positions in derivatives) have surged in the past 24 hours, warning that a sharp rise could lead to a quick sell-off. "Unpositioned squaring contracts have risen 37 per cent - watch for volatility. The last similar event resulted in a 17 per cent decline", Maartuun said.