Altcoins have recently seen a strong resurgence of investor interest, following Bitcoin's performance, with which they currently show a strong correlation.

Total 2, which represents the market cap of all altcoins, jumped by more than $183B in the span of just a few days, a total increase of roughly 20%. In this momentum, XRP managed to capture a significant share of that interest, posting a performance of around 70% over the period.

This surge, however, also drew in speculators on the derivatives markets, particularly on Binance, which continues to dominate futures volumes. Following this performance, a growing number of traders chose to bet against the trend by taking short positions.

As a result, net taker volume on Binance just hit its strongest level of selling pressure since the start of 2026, with sell-side dominance reaching -$96 million, even as XRP moved back above the $1 mark.

At the same time, XRP's Open Interest on Binance rose by approximately 14.8%.

A real tug-of-war is now underway between spot demand and derivatives selling pressure. For now, XRP is holding above $1.40, but the outcome of this struggle will be decisive for its next price move.

Written by Darkfost