XRP Open Interest Plunges Amid $14.2M Liquidations Ahead of Senate Vote

XRP's open interest has dropped by 14% after $14.2 million in liquidations, which affected both long and short traders. Funding rates have turned negative, ending a 14-session streak of positive funding.

Binance's XRP reserves remained steady despite a 91% drop in deposit addresses.

The XRP Ledger's recorded asset value has surged from $99 million in Q1 2025 to $4.26 billion in Q2 2026, with RLUSD stablecoin transfers rising 925% year-over-year, indicating growing institutional activity.

Dark Defender highlighted that XRP's price pattern is mirroring previous rallies from 2014 and 2017, suggesting a potential major price jump ahead of the Senate vote on the CLARITY Act scheduled for September 15.