Crypto
XRP Market Sees 8% Rise in Open Interest Amid Growing Selling Pressure
The XRP market is experiencing selling pressure as open interest on Binance derivatives has risen by 8% from August 4 to August 7, 2026. At the same time, there was a decline of 52% in global spot buying momentum over the three-day period.
A report from CryptoQuant shows that traders have been leveraging short positions, with a decrease in spot buying momentum. This combination indicates that sellers currently have more market momentum.
The data suggests that fresh capital entering the XRP derivatives market is predominantly biased toward the short side. The total open interest on Binance rose from $180 million to $195 million, indicating an 8% growth in open interest.