XRP Open Interest Recovers Amid Persistent Selling

Derivatives exposure for XRP has rebounded after a steep decline in late August, yet aggressive sell pressure persists in both perpetual futures and spot markets.

Open interest rebounds

According to Cryptoquant data, the seven‑day change in XRP open interest moved from –27 % on Aug. 29 to +1 % on Sept. 6, marking a 28‑percentage‑point swing. Binance’s open‑interest figure stood around $244 million on Sept. 6.

Sell‑side dominance in order flow

The perpetual cumulative volume delta (CVD) fell to roughly –$897.1 million, indicating that taker‑initiated sell orders outpaced aggressive buying. Spot‑market CVD across centralized exchanges also turned negative, reaching about –$1.4 billion, the lowest level observed in the chart’s timeframe.

Price stability despite pressure

During this period XRP traded near $1.42, showing relative price resilience even as sell‑side order flow remained strong.

Interpretation of the structure

Analyst Amr Taha noted that the combination of rising open interest and persistently negative CVD suggests bearish taker‑side positioning continues, with traders adding exposure while expecting lower prices.

Broader market context

Altcoin perpetual open interest surpassed Bitcoin’s on Sept. 6 for the first time since Dec. 2024, highlighting heightened leveraged activity in smaller cryptocurrencies.

Key takeaways

• Open interest recovered sharply after a late‑August contraction.
• Both perpetual and spot order flow remained heavily skewed toward sellers.
• Price stayed around $1.42, showing resilience amid sell pressure.
• Analysts flag an “unusual structure” where fresh derivatives exposure returns while aggressive selling persists.