XRP Open Interest Rises Amid Ongoing Bearish Sentiment

XRP's open interest in derivatives has recovered significantly since its late-August drop, reaching around $244 million on Binance by September 6. This recovery comes as XRP's price remains stable at approximately $1.42.

However, despite this stability and the increase in exposure, aggressive selling continues in both perpetual futures and spot markets. The negative cumulative volume delta (CVD) indicates that there are more sell orders than buy orders, signaling bearish sentiment.

This situation creates a unique market condition where traders expect lower prices even as XRP shows resilience. This highlights a cautious and complex market outlook for the token.