XRP Binance Open Interest Falls 15.3% as Traders Cut Leverage While Price Holds

XRP Binance Open Interest Falls 15.3% as Traders Cut Leverage While Price Holds

XRP Binance open interest has fallen 15.3% from its six-month high as leverage, funding and long positioning cool while price holds most of its recent gains. XRP traders on Binance have reduced leverage sharply after last week’s rally, with open interest falling 15.3% from its six-month peak.Visit Website

CryptoQuant Data Shows XRP Binance Open Interest Drops 15% From Highs

TL;DR XRP Open Interest Decline: Binance open interest fell to $521.5 million on September 29, down 15.3% from the six-month high recorded on September 22, signaling reduced speculative exposure. Leverage Reset: Funding rates and leverage ratios declined, indicating traders scaled back risk even as price remained near recent highs. Unclear Direction: Higher reserves and stronger ...

XRP open interest on Binance falls 15% from six-month high

The decline in XRP open interest on Binance suggests a cautious market sentiment, potentially impacting future price stability and trader strategies.