Binance XRP derivatives open interest (OI) has decreased by 15.3% from its six-month high, CryptoBriefing reported, citing CryptoQuant data. As of October 1, XRP perpetual futures open interest was approximately $485 million. In September, it approached $600 million, surpassing the 180-day average of approximately $445 million, but since then, leveraged positions have decreased. The media explained, "Funding rates and the long/short ratio of large accounts have not significantly skewed to one side. If prices and open interest rise together in the future, it could be seen as a sign of strengthening leveraged buying. Conversely, if prices stagnate or fall while only open interest increases, it could indicate an increase in shorts or long positions being trapped."
