“XRP 미결제약정 급락, 2024년 이후 최저 수준”

XRP open interest plummets to its lowest level since 2024.

According to data from Binance (the world's largest exchange by trading volume), liquidity conditions are shifting across major assets, and XRP is no exception. Derivatives indicators show that XRP has entered a key area where trader sentiment is shifting and momentum is weakening.

XRP's open interest has plummeted from an all-time high of over $1.7 billion to approximately $504 million. At one point, it fell as low as $473 million, demonstrating a significant outflow of liquidity from both longs and shorts. This significant decline indicates a lack of market interest and confidence to sustain a clear trend.

The sharp decline in open interest coincides precisely with the XRP price dropping from the $2.50-$3 range it had maintained for the past several weeks to $2. The simultaneous decline in both price and open interest indicates that traders are holding back on opening new positions and that the market is moving towards short-term trading, lacking the strength to generate a structural rebound.

The funding ratio is also strengthening the bearish advantage. Over the past two months, it has repeatedly fallen into negative territory, indicating that short position holders are holding onto their positions despite the costs involved. A negative funding ratio signals that selling pressure is significantly stronger than buying pressure, and without new liquidity, the downward pressure is likely to continue.

Ultimately, the three key indicators—open interest, funding rate, and price movement—indicate a significant weakening of XRP's market momentum. There are no signs of large-scale trader or institutional buying, and no increase in open interest or improvement in funding rate, indicating that XRP is currently completely dominated by selling pressure.