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Speculative activity is returning to $XRP’s Binance Futures market. Open Interest has moved above its recent average, and traders are entering positions again.
Worth noting, however, that this does not look like an overheated move yet.
$XRP OI rises above recent average
$XRP’s Binance derivatives market is seeing the great return of speculative activity. Open Interest climbed to around $475.4 million – Above the 30-day average of nearly $440.7 million.
Meanwhile, the Open Interest Z-Score rose to about 1.65. Thanks to the same, the current activity is now above its recent norm.
Liquidity is entering $XRP Futures too as more traders are opening positions.
However, this does not automatically mean $XRP is turning bullish. Higher Open Interest only proves that participation and risk exposure are increasing.
No one wants to sell $XRP
Binance exchange inflow data revealed no rise in $XRP moving onto the exchange. The latest reading was around 582.2K $XRP. That seemed to be way below the inflow spikes seen previously.
This is important because rising exchange inflows mean holders may be preparing to sell. At the time of writing, that pressure appeared to be weak.
In fact, recent inflows have been subdued, compared to the spikes of 2024 and early 2025.
Low leverage saves $XRP
Inflows were also in alignment with what the Estimated Leverage Ratio underlined. Even though the OI moved above its 30-day average, leverage did not seem to have followed it.
$XRP’s leverage ratio was close to the lower end of its recent range, below the range of earlier phases in late 2024 and mid-2025. While $XRP’s price was still near the $1.4-zone, traders have not been building heavily leveraged positions like they did before.
This makes the current setup a tad bit more measured. Liquidity is returning to $XRP Futures, but without any level of aggressiveness. That reduces the risk of an immediate overcrowded trade, but you also clearly see participation.
Final Summary
- $XRP Futures activity has been heating up, with Open Interest at $475M.
- Speculation might be returning without signs of great risk.