XRP Price Correction Leads to Reduced Leverage in Derivatives Market

XRP derivatives market open interest has decreased by nearly 23% in less than a month, with prices retreating around $1.50. The decline reflects reduced leverage and speculative positions. According to CryptoQuant on September 17 (local time), XRP derivatives open interest is now approximately $871 million, down from $1.128 billion at the end of August—a decrease of about $257 million or 23%. The downward trend was observed across exchanges as well: Binance's open interest fell from $558 million to $423 million, while Bybit saw a drop from $379 million.