Darkfost2026-10-27

XRP Deleveraging signal appears as Binance Open Interest falls by 28%

XRP has just flashed a new deleveraging signal on Binance derivatives XRP’s Open Interest on Binance has just dropped to $445 million, falling below its 180-day average of roughly $460 million. This marks a clear contraction in the value of positions held on the derivatives market. Since September 22, Open Interest has fallen by nearly 28%, while XRP’s price has declined by 17% over the same period. This drop is partly driven by the price decline itself. As XRP falls, the value of existing positions shrinks, which mechanically reduces the weight they carry in the derivatives market. In addition, the sell-off triggered liquidations, which further contributed to the decline in Open Interest. This deleveraging dynamic is a rather positive signal as it suggests that pressure on XRP futures is gradually easing. When this happens, it tends to stabilize the asset and helps put in place some of the conditions that favor a potential short-term rebound. We saw this in mid-September, when XRP gained 32% in the following period, and after the mid-August episode, which was followed by a 72% rally.