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XRP Deleveraging Signal Flashes As Open Interest Sinks To $445 Million
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
XRP’s last two leverage flushes on Binance were followed by sharp rebounds, with a 72% gain after mid-August and a 32% climb after mid-September. A similar setup is now forming. Open interest in XRP futures on the exchange has fallen to $445 million, below its 180-day average of about $460 million, according to on-chain researcher Darkfost. The total has shrunk by almost 28% since September 22, while the token’s price has slipped 17% to around $1.29. Part of the drop comes from lower prices reducing the dollar value of open positions. Forced liquidations during the selloff cleared out more. With less leveraged exposure left in the market, selling pressure in derivatives is easing, which often helps prices steady before a short-term recovery.
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