XRP Bearish Sentiment Grows as Open Interest Hits Two-Month High

XRP futures open interest on Binance hit a two-month high of $232.7 million on August 17, representing a 28.6% surge from roughly $181 million just two weeks prior.

This increase might signal growing conviction in the market, but digging deeper reveals a bearish trend.

The perpetual cumulative volume delta (CVD) metric, which measures whether aggressive buyers or sellers are driving trades, sat at negative $463.2 million on Binance.

When open interest climbs while CVD craters, it typically means fresh short positions are flooding in, not longs piling on.