XRP open interest on Binance falls 15.3% from six-month high, CryptoQuant data shows
In brief
- Binance XRP derivatives open interest is down 15.3% from its six-month high, per CryptoQuant data.
- Binance XRP perpetuals open interest stood near $485 million as of October 1, 2026.
- XRP slid about 5% in a late-September window, from $1.66 to $1.57, Crypto Briefing reported.
- Funding rates and long/short ratios among larger accounts were balanced, the report says.
What CryptoQuant's data shows
Open interest is the total value of futures and perpetual contracts still open on an exchange. For XRP on Binance, that figure dropped 15% in dollar terms over a stretch in late September, according to Crypto Briefing. XRP slid about 5% over the same window (from $1.66 to $1.57), the outlet reported.
It's not the first sharp swing in XRP leverage on Binance this year.
A flush in August, then a rebound
Between August 22 and September 17, 2026, Binance XRP open interest fell about 32%, from roughly $323 million to around $219 to $220 million. XRP's price fell roughly 11% over that period. Crypto Briefing's analysis says part of the contraction came from over-leveraged positions getting flushed out, and that spot buying activity picked up as traders cut their futures exposure.
Cumulative volume delta (which tracks whether aggressive buyers or aggressive sellers are dominating trades) deteriorated sharply into mid-September, per CryptoQuant data cited by Crypto Briefing. It reached negative $2.1 billion on spot markets and negative $1 billion on Binance perpetuals.
Then the picture flipped. Open interest rebounded in September toward yearly highs near $600 million, breaking above its 180-day average of around $445 million, and Crypto Briefing said that came alongside XRP price gains of more than 50% over the month. That's a move from the low $200 million range to near $600 million in a matter of weeks.
Funding and positioning
The research also points to balanced funding rates and long/short ratios among larger accounts, according to Crypto Briefing. Funding rates are the periodic payments between long and short traders on perpetual contracts, and they tilt heavily when one side becomes crowded.
The report doesn't offer a price forecast. What it does show is where the market sits now: Binance XRP perpetual open interest at about $485 million, below September's peak near $600 million but above the roughly $445 million 180-day average the report cited.
Frequently asked questions
What is open interest in crypto derivatives?
Open interest is the total value of futures and perpetual contracts still open on an exchange. For XRP perpetuals on Binance, it stood at approximately $485 million as of October 1, 2026, according to CryptoQuant data reported by Crypto Briefing.
How much has XRP open interest on Binance fallen?
Open interest in XRP derivatives on Binance has fallen 15.3% from its six-month high, according to CryptoQuant data. Over a stretch in late September it dropped 15% in dollar terms, while XRP slid about 5%, from $1.66 to $1.57, Crypto Briefing reported.
What are funding rates on perpetual contracts?
Funding rates are the periodic payments between long and short traders on perpetual contracts, and they tilt heavily when one side becomes crowded. The research cited by Crypto Briefing points to balanced funding rates and long/short ratios among larger accounts trading XRP.
