Open interest in XRP derivatives on Binance surged nearly 15%, its highest level since early March, signaling renewed speculative activity. However, repeated long liquidations and a decline in order flow metrics indicate this leverage buildup is being driven primarily by new short positions rather than bullish bets, creating a mixed picture for the token’s momentum.
Data shows open interest (OI) in XRP derivatives on the Binance exchange increased by 14.8% over 24 hours. Analyst Amr Taha identified this as the highest reading since March 4, when the metric peaked near 16%.
Taha stated that high open interest means traders are aggressively rebuilding exposure. However, he noted three significant long liquidation events that occurred in quick succession, wiping out over $2.5 million, $2.45 million, and approximately $2.15 million respectively.
“Rising open interest usually reflects growing speculative activity,” Taha explained. “But repeated long liquidation spikes show that bullish positioning is still being punished during volatility.”
The rise in open interest coincided with a drop in Binance’s Cumulative Volume Delta (CVD). When OI climbs while the CVD falls, it typically means new short positions are driving activity rather than fresh bullish bets.
XRP was trading around $1.36, down 2% in 24 hours and nearly 7% over the past week. Its 24-hour trading range was $1.34 to $1.39, showing tight, directionless price action.
The token remains almost 63% below its all-time high of $3.65. Analyst CasiTrades previously placed XRP inside a wider bearish wave structure, with a downside target of $0.87 being in play unless it breaks and holds above $1.65.
