Amr Taha
More XRP has left Binance, but the high-leverage traders still have not come back.
XRP continues to leave Binance, while derivatives traders still appear reluctant to rebuild aggressive leveraged exposure. The data shows Binance’s cumulative XRP netflow value has fallen from around -$10.4 billion in mid-August 2025 to -$11.23 billion now, signaling a continued drain in XRP supply on the exchange. Meanwhile, Binance XRP open interest has stayed only slightly above $200 million since mid-February 2026. That suggests speculative activity remains present, but not at the kind of elevated levels typically associated with stronger high-leverage conviction. The takeaway is clear: exchange supply continues to thin, but derivatives traders are still not betting aggressively. That leaves XRP in a market structure where available supply is weakening, yet speculative appetite remains muted.