Ripple Plunges to $1 as Bearish Sentiment Takes Hold in Derivatives Market
Ripple's price has fallen to $1 for the first time since November 2024. The token first crossed this threshold on November 16, 2024, and reached a peak of $3.42 in July 2025. However, with the broader crypto market downturn, much of that advance has been erased.
The break below $1 came as derivatives exposure recovered while market-order data continued to favor sellers. According to CryptoQuant data, Binance's seven-day change in XRP open interest moved from -13% on August 1 to +7.4% by August 11, indicating that traders were adding leveraged exposure again.
However, rising open interest does not necessarily indicate whether new positions are bullish or bearish. Other measures pointed to continued selling pressure, with Binance's perpetual cumulative volume delta falling from -251M at the beginning of August to -349.5M by August 11.
The estimated spot CVD across centralized exchanges also deteriorated over the same period, falling from approximately $193M to -$34.3M. CoinGlass data showed XRP's long-to-short account ratio at 0.8432 near the $1 level, with roughly 45.7% of positioned accounts long and 54.3% short.
XRP's bearish positioning has developed in a derivatives market that remains smaller than it was earlier in 2026. CoinGlass data showed XRP futures open interest at around $2.69Bn and 24-hour futures turnover near $2.17Bn on the Tuesday covered by the report.