XRP open interest dropped 23% to $871M as traders unwind leverage positions across major exchanges amid regulatory headwinds.
DeFi & Yields ·
XRP's open interest across major derivatives platforms fell 23% to approximately $871 million from $1.128 billion in under a month, with Binance accounting for the steepest decline as open positions dropped from $558 million to $423 million. The unwinding of leverage positions rather than fresh short bets coincided with an 8% price decline following regulatory challenges, bringing XRP to around $1.30. Support levels between $1.24 and $1.26 are now being monitored, with further declines possible if these levels fail to hold.