[Analysis] XRP Futures 30-Day Average Open Interest Hits Eight-Month High as New Positioning Slows

The 30-day average of open interest in the XRP futures market has climbed to its highest level in eight months. Current open interest remains below that average, however, suggesting the recent surge in derivatives trading has begun to cool.

On Oct. 13, CryptoQuant contributor Arab Chain wrote that the 30-day average of open interest in Binance XRP futures reached about $511 million, the highest level in the past eight months.

Open interest refers to the total number of futures contracts that have not yet been closed or settled.

Recent open interest, however, has stayed below the 30-day average. That suggests some existing positions may have been unwound or that the pace of new positions entering the market has slowed, Arab Chain wrote.