XRP's Derivatives Demand Hits Lowest Level Since 2024 Amid Ongoing Bear Market
The XRP price has been trapped in a bear market for nearly a year, and its Open Interest (OI) on Binance exchange has fallen to its lowest level since 2024. According to CryptoQuant data analyzed by Finbold, the OI on Binance was at $369,657,870 on July 29. This is a significant drop from the peak of $401,803,784 recorded on November 14, 2024.
The decline in XRP's OI has coincided with the crypto market's multi-month correction, led by Bitcoin (BTC), and fueled by capital flight to AI stocks. Over the past year, the token's price has tumbled more than 65% to $1.08 at press time. During the past 24 hours, XRP's price added 0.52%, with its traded volume at $1.25 billion.
The sharp decline in Open Interest suggests derivatives traders are reducing their exposure as bearish sentiment persists. Additionally, XRP's OI has dropped on all exchanges from about $3.9 billion on July 21, 2025, to $784 million on Thursday, based on updates from CryptoQuant.