This creates a clear problem for bulls: while buyers are showing up at the $1.10 to $1.15 support zone, they lack the conviction, and the buying power, to break through the selling pressure above them. Every time the price hits $1.15, it is met by sellers eager to exit, wearing down the support level with every failed attempt.
Think of open interest (OI) as the fuel in the market’s engine. It represents the total value of active futures bets riding on the price of XRP.
Back in November, when XRP was trading above $2.40, the tank was full with $4.5 billion in open interest. Today, that number has bled down to roughly $2.60 billion. Because price and open interest have fallen in tandem, it suggests the market is not necessarily coiling for a jump; it is simply deflating. The excitement that drove the late-2025 highs has largely dissipated, leaving a quieter, more cautious environment.
Despite the overall cooling, the distribution of that $2.60 billion in open interest is telling.
| Exchange | XRP Open Interest |
|---|---|
| Binance | ~$449M |
| CME | ~$449M |
| KuCoin | ~$328M |
| Bybit | ~$237M |
| Bitget | ~$231M |
Source: CoinGlass, open interest by exchange.
The fact that CME (the Chicago Mercantile Exchange), the home of regulated institutional futures, is level with Binance is a major detail. While retail speculation has quieted, institutional players are maintaining their positions. This aligns with recent analyst notes flagging renewed institutional futures activity on CME, suggesting that while the retail crowd has stepped back, larger players are treating this period of weakness as a potential accumulation window.
The path ahead hinges on one specific signal: the divergence.
If you want to know whether $1.13 is a true floor or just a temporary stop before further downside, do not watch the price alone. Watch the open interest.
The bullish signal might be price holding its ground while open interest begins to climb. That could indicate new money entering the market with intent. The cautionary signal may be the opposite: as long as price and open interest slide or flatline together, the market probably remains fragile.
For now, we are in a holding pattern. The $1.10 to $1.15 support looks real, but until that fuel turns back on convincingly, the more likely path is continued consolidation rather than an immediate breakout.
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