XRP’s price has been under pressure after a recent correction brought it down to a multi-year low of $0.98. Despite this, the derivatives market for XRP on Binance has displayed a notable increase in trading activity.
XRP open interest surges on Binance
Latest analytics from CryptoQuant, a leading blockchain data provider, indicated that open interest (OI) in XRP futures on Binance rose sharply in August. Figures show that OI reached $232.7 million on August 17, up from $181 million on August 3. This 28.6% increase pushed XRP’s futures OI to its highest point since June 2026.
Rising open interest generally indicates an influx of new capital and positions in the market. However, the report highlighted that this heightened activity emerged during a period marked by increased volatility and continued price declines for XRP.
An analyst from CryptoQuant observed that the majority of the surge stemmed from intensified bearish positions by traders, rather than fresh bullish momentum. This interpretation is based on several on-chain indicators tracked during the same period.
Market data points to continued selling
The analytics further tracked XRP’s seven-day open interest trend. Open interest shifted from a decrease of $40 million on July 29 to a gain of $38.9 million by August 17. This swing, according to the report, demonstrates that many traders opened new positions in August, with both bullish and bearish strategies in play.
While open interest rose, Binance’s Perpetual Cumulative Volume Delta (CVD)—which summarizes net buying and selling activity—showed persistent selling pressure, falling to -$463.2 million. This metric provided clearer insight into market sentiment, revealing that aggressive sell-side orders have outweighed buying even as OI climbed.
The combination of a jump in open interest and falling CVD presents mixed signals for XRP. The rising OI might typically suggest renewed interest, yet the dominance of bearish bets paints a less optimistic picture for the short term.
CryptoQuant is a South Korea-based blockchain analytics provider offering real-time data on flow, activity, and sentiment across major cryptocurrencies and exchanges.
Mini dictionary: Open Interest (OI), the total value of outstanding futures or options contracts that have not been settled. Higher OI reflects increased participation and can indicate market sentiment.
XRP open interest on Binance soared from $181 million to $232.7 million between August 3 and August 17, as bearish positions dominated trade and sell-side pressure continued to build.
| Date | XRP Open Interest (Binance) | Cumulative Volume Delta (Binance Perpetual) |
|---|---|---|
| July 29 | ~$181 million | – |
| August 3 | $181 million | – |
| August 17 | $232.7 million | -$463.2 million |
Despite hopes for a price recovery, most new trades in $XRP derivatives on Binance have focused on selling, signaling ongoing caution among market participants.
