XRP Open Interest Drops 32% as Leverage Liquidations Outpace Price Decline

Binance's XRP open interest has decreased by around 32% since the end of last month. During the same period, XRP's price decline was approximately 11%, showing that reductions in leveraged positions in derivatives markets have outpaced price drops. In the spot market, selling pressure has been stronger than in derivatives.

Centralized exchange estimated spot cumulative volume delta (CVD) fell from negative $11.1 million on October 22 to negative $210 million as of November 17. Binance perpetual futures CVD also declined during the same period.