XRP futures open interest on Binance fell by $85.1 million, or 15.8%, between October 4 and 17, following a wave of long liquidations that affected leveraged traders.
According to CryptoQuant analyst CryptoOnchain, the value of outstanding contracts declined from $538.1 million to $453 million. On October 7 and 8, liquidations of bullish positions reached $25.7 million on Binance.
ripple:native Exchange Reserves Reach the 99th Percentile of the Past Year as Binance Leverage Unwinds
Exchange reserves for ripple:native stood at 11.81B on October 17, the 99th percentile of the past 365 days.
Binance ripple:native open interest closed at $453.0M on October… pic.twitter.com/JFwczpVcON
— CryptoOnchain (@CryptoOnchain) October 18, 2026
The decline coincided with a drop in XRP’s price from approximately $1.52 to $1.29. However, the decrease in open interest does not represent $85.1 million in realized losses, nor does it confirm that traders have turned bearish.
The data also shows that exchange reserves reached approximately 11.81 billion XRP on October 17, placing them in the 99th percentile of observations over the past 365 days.
In addition, large holders transferred approximately 1.669 billion XRP to Binance over a 30-day period, although these deposits do not confirm that any sales took place.
The reduction in leverage could lower the risk of further cascading liquidations, but it cannot, on its own, determine the future direction of XRP’s price.
Source: https://x.com/CryptoOnchain/status/2111923415317656005
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