XRP Price Holds Steady as Binance Open Interest Drops 15.3 Percent
XRP (XRP)
Editor:
Eugene Serbin
digitaltoday.co.kr reports that XRP open interest on Binance has fallen 15.3 percent from its six-month high, while the price has limited its decline to the 5 percent range. According to data from CryptoQuant Quicktake, Binance XRP open interest stood at $521.5 million on September 29, down from a peak of $616.1 million recorded on September 22. The Crypto Basic noted that the derivatives market showed signs of cooling without a sharp price drop, with XRP closing at $1.490 on that peak day.
Liquidation patterns shifted as short liquidations totaled $13.7 million on September 21, but pressure moved to leveraged longs afterward. From September 24 to 29, long liquidations averaged $3.72 million daily, which is 2.6 times the six-month daily average of $1.43 million. The estimated leverage ratio fell to 0.197 from 0.230 at the peak, and the funding rate eased to about 0.005 from 0.010.
Despite these drops, the current leverage ratio of 0.197 still exceeds the six-month average of 0.169. Spot data showed Binance's XRP holdings at a seven-day average of 2.68 billion, which is 2.4 percent above the 90-day baseline. XRP Ledger transaction counts averaged 1.96 million daily, up 23 percent from the previous week. "For now, the clearest reading is that XRP shed leverage while price held most of its gains," said @CryptoOnchain.
How the market reacted
Whalio's own Binance spot order flow for XRP, measured when this story was written up on 2 October 2026. Not the outlet's figures.
Whalio's spot data shows XRP trading at $1.49 with a 24-hour buy ratio of 52.3 percent, indicating a slight majority of buyers over sellers. The 1-hour buy ratio stands at 40.9 percent, suggesting short-term selling pressure, while the 4-hour ratio is 50.1 percent, showing a balanced market. Volume delta for the 24-hour period is positive at $7,806,520, indicating net buying, though the 1-hour delta is negative at -$2,965,169. The cumulative volume delta (CVD) for the 24-hour close is -$9,496,580, reflecting recent outflows despite the positive delta. Net buying occurred for 10 of the last 24 hours, with a spot volume of $169,889,610 and 612,123 trades recorded. This mix of positive 24-hour delta and negative CVD suggests that while buying pressure exists, it has been offset by recent selling intensity.
The latest daily buy ratio of 50.6% sits at the 83rd percentile of the last 322 days, against a median of 48.5% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for XRP, averaged over the days leading up to the story.
Compared to the preceding week, the current 24-hour buy ratio of 52.3 percent is higher than the 7-day average of 48.5 percent, showing increased buying interest. However, the 24-hour spot volume of $169,889,610 is only 0.60 times the weekly average, indicating significantly lower trading activity. The 24-hour volume delta of $7,806,520 contrasts with the 8-day total volume delta of -$18,231,235, suggesting a recent shift toward net buying after a week of net outflows. Only 3 of the past 7 days saw net buying, making today's positive delta an unusual deviation from the weekly trend. This day represents a reversal in flow direction compared to the broader weekly context of net selling.