Amr Taha2026-05-04

XRP Rises Above $1.41 as OI Delta Turns Positive on Binance and Bybit While Reserves Fall

The key signal comes from Bybit. On May 1, XRP open interest delta on Bybit rose by about $23.9 million, while Binance recorded only around $2.7 million on the same day. This matters because open interest delta reflects the change in active derivatives positioning. A sharp positive reading suggests that new positions are being added to the market. When this happens while price is rising, it often shows that traders are increasing exposure as momentum begins to recover. But the more important part is that this leverage build-up is happening while exchange reserves are falling. On Binance, XRP reserves declined from around 2.80 billion XRP on March 17 to roughly 2.76 billion XRP by May 4, a decrease of about 50 million XRP. On Bybit, reserves dropped from around 117 million XRP to approximately 98 million XRP over the same period, a decline of about 19 million XRP. The percentage drop is much sharper on Bybit. Binance reserves fell by roughly 1.8%, while Bybit reserves declined by about 16.2%. That combination creates an important market structure signal: XRP leverage is building on Bybit while the amount of XRP held on the exchange has declined sharply since mid-March.