XRP open interest on Binance falls 15% from six-month high

XRP traders on Binance just took some chips off the table. Open interest in XRP derivatives on the exchange has fallen 15.3% from its six-month high, according to CryptoQuant. What the numbers show Open interest is the total value of futures and perpetual contracts still open on an exchange. When it rises, traders are piling into leveraged positions. When it falls, those positions are being closed, either by choice or by force. Over a stretch in late September, open interest dropped 15% in dollar terms. XRP slid about 5% over the same window, moving from $1.66 to $1.57. As of October 1, 2026, open interest on Binance XRP perpetuals stood at approximately $485 million. A volatile year for XRP leverage Between August 22 and September 17, 2026, Binance XRP open interest fell about 32%. That move took it from roughly $323 million down to around $219 to $220 million. XRP’s price fell roughly 11% during the same period. Part of that contraction came from over-leveraged positions getting flushed out. As traders cut back their futures exposure, spot buying activity picked up. The selling pressure was visible in another metric too. Cumulative volume delta, which tracks whether aggressive bu...