XRP lost the $2 level and showed clear signs of cooling in the derivatives market, amid broader weakness across the crypto sector. Over the past 24 hours, futures open interest fell by 4.92%, signaling reduced speculative interest and the closure of short-term positions.
According to CoinGlass data, around 1.81 billion XRP are currently tied up in futures contracts, with an estimated value of $3.45 billion. At the time of publication, the token was trading at $1.86, down 3.28% on the day, after failing to hold the intraday high of $1.94. Trading volume also contracted, falling by nearly 12%, in line with a slowdown in on-chain activity.
Despite the pullback, CME continues to lead the XRP futures market, accounting for more than 22% of total open interest. During the latest session, traders committed roughly 403.6 million tokens on the platform, equivalent to about $770 million, followed by Binance and Bybit with market shares of 16.61% and 12.02%, respectively.
Source: https://www.coinglass.com/BitcoinOpenInterest
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