Amr Taha
XRP Leverage Resets: Binance Open Interest Hits 15-Month Low While Bybit Reaches $229 Million
XRP’s derivatives market is operating with significantly lower leverage than during the major expansion phases of 2025, as open interest across leading exchanges remains well below previous peaks. On July 31, XRP open interest in stablecoin-margined contracts on Binance declined to approximately $186 million, its lowest level since April 2025. Bybit recorded the largest position among the three leading exchanges at around $229 million, exceeding Binance by roughly $43 million, while OKX open interest stood near $49 million. The figures indicate that leveraged XRP activity is currently concentrated mainly on Bybit and Binance, which together account for nearly 89% of the combined open interest across Bybit, Binance, and OKX. Lower open interest suggests that XRP is trading with a lighter leveraged-position base compared with 2025. However, open interest alone does not determine the next price direction and should be evaluated alongside funding rates, trading volume, liquidations, and spot-market demand.