Open interest data for XRP contracts across all platforms reveals a clear decline in the volume of open positions over a period of less than a month. Open interest fell to approximately $871 million—down from $1.128 billion in late August—representing a 23% drop (a decrease of nearly $257 million) and signaling a notable contraction in outstanding positions within the derivatives market.

Specifically, open interest on Binance dropped to $423 million from $558 million in August, while Bybit recorded approximately $291 million, down from $379 million. Similarly, open interest on OKX declined to $107 million, compared to $125 million in August.

This significant drop in open interest suggests that a portion of the positions accumulated during the previous rally has been closed or liquidated. Furthermore, the decline in open interest—coinciding with XRP’s price retreat from levels near $1.50—indicates reduced leverage and speculative activity in the XRP market compared to recent peaks.

However, the drop in open interest does not in itself signal a continuing bearish trend; rather, it primarily reflects reduced market exposure in the derivatives sector and a shift by traders toward repositioning their holdings.

Written by Arab Chain