Amr Taha2026-08-21

XRP Rallies to $1.39 as Binance Open Interest Reaches $263M and Perpetual CVD Drops to -$514M

XRP rallied nearly 40% in roughly two days, rising from around $0.997 on August 19 to above $1.39 on August 21, while Binance open interest climbed to a new high of approximately $263 million. The expansion in derivatives exposure has been building for several weeks. Binance XRP open interest increased from roughly $181 million on August 3 to $263 million on August 21, a gain of about 45%. However, taker-flow data shows a notable divergence beneath the price rally. Binance XRP Perpetual CVD continued falling to approximately -$514.4 million, indicating that aggressive sell-side executions remained dominant even as both XRP’s price and open interest moved sharply higher. Rising open interest alongside declining perpetual CVD is consistent with new short-side positioning being added into the rally. Spot activity showed a different trend. All-CEX Estimated Spot CVD improved from roughly -$250 million to -$194.8 million, a positive shift of about $55 million. While spot CVD remains negative, the recovery contrasts with the continued deterioration in Binance perpetual CVD. The divergence suggests that a growing portion of derivatives traders is still leaning against the rally even as price momentum remains strong, leaving XRP’s futures market increasingly sensitive to further price moves in either direction.