XRP Price Holds Firm at $1.29 Amid Derivatives Market Decline

XRP's price has been holding steady around $1.29 despite a significant decline in open interest across its derivatives market.

Open interest, which measures the total value of outstanding contracts, fell from $1.128 billion in August to $871.22 million currently, indicating that traders are closing futures positions or repositioning ahead of a move.

This drop in open interest does not automatically signal a bearish shift in XRP's token, as it may simply reflect traders cutting exposure rather than committing to a directional bet.

A closer look at the data reveals that Binance and OKX account-level metrics show traders leaning long by a factor of roughly 2.5 to 3, with even Binance's top traders remaining net long by both account count and position size.