Binance Grabs Half of Shrinking XRP Futures Market
XRP futures trading volume has seen a significant decline in recent months, according to data from CryptoQuant Quicktake. As of August 3, total XRP futures volume stood at $897 million, down about 21.5% from the $1.14 billion recorded on May 1.
This sharp drop in trading activity has led to a concentration of XRP futures volume on Binance, which handled approximately $437 million, accounting for 48.7% of the total. This is nearly equal to the combined $460 million traded across all other centralized exchanges.
Binance's share of XRP futures volume rose about 6.8% from $409 million in May, while volume on other exchanges fell by approximately 37%. Liquidation flows showed sharper losses in long positions, with bullish bets being consistently liquidated at a higher rate than short positions since February.
CryptoQuant Quicktake analyst Amr Taha noted that the drop in trading volume does not determine XRP's next direction. However, he warned that any renewed inflow of leveraged capital could trigger bigger price swings due to the smaller futures market.