XRP open interest on Binance and Bybit fell 26.5%, from 661M to 486M combined. Spot CVD worsened by $1.3B, while Binance perpetual CVD weakened by another $688M. XRP’s heatmap showed $54.7M i
XRP derivatives exposure contracted over three weeks as sellers dominated spot and perpetual trading, adding pressure during a price decline. Between September 23 and October 16, combined open interest on Binance and Bybit fell 26.5%, according to figures shared by CryptoQuant analyst Amr Taha.
Cumulative sell-side trading imbalances increased by nearly $2 billion across centralized spot exchanges and Binance perpetuals. Repeated long liquidations provided further evidence of stressed leveraged positions, although the data did not establish the direction of every remaining trade.
Read The Full Article XRP Open Interest Plunges 26.5% as $2B Sell-Side Imbalance Fuels Bearish Pressu On Coin Edition.
