XRP Open Interest Resets to Early 2024 Levels, Signaling Potential Breakout

• XRP open interest drops below $200M on Binance, matching early 2024 amid stable prices over $2.60.

• XRP derivatives show deleveraging, leaving long-term holders in control for possible upward momentum.

• Technical rebound from ascending channel support indicates sustained uptrend, per analyst Xaif Crypto, with historical data showing breakouts after similar resets.

Discover how XRP open interest reset to early 2024 levels signals a potential price breakout. Analyze low leverage trends and strong holder dynamics for investment insights. Stay ahead in crypto markets today.

What is XRP Open Interest and Its Current Reset?

XRP open interest refers to the total number of outstanding XRP futures contracts that have not been settled on exchanges like Binance. Currently, it has reset to early 2024 levels below $200 million, indicating a significant deleveraging event while XRP’s spot price holds steady above $2.60. This configuration suggests reduced speculative activity and a cleaner market structure for potential future gains.

How Does the XRP Open Interest Reset Impact Price Action?

The reset in XRP open interest to multi-month lows reflects a flush-out of leveraged positions, creating conditions similar to those in May 2025 when XRP rallied from $0.70 to $3.50. Analyst CryptoRus highlights that this decline removes excessive speculation, allowing strong holders to influence direction. Data from Binance confirms open interest at under $200 million, last seen in early 2024 when XRP traded between $0.45 and $0.60 before a November 2024 breakout. During that period, open interest surged from below $400 million to over $1.6 billion, coinciding with a price climb to more than $2.80 driven by leveraged buying.

Subsequent corrections in March 2025 saw open interest drop to around $500 million as prices fell near $0.70, illustrating the risks of high leverage. A mid-2025 recovery pushed open interest to $1.7 billion and prices above $2.50. Expert analysis from CryptoRus emphasizes that the current stability above $2.60, despite low open interest, points to resilient spot demand. If liquidity returns without renewed speculation, this could catalyze a breakout, supported by historical patterns where deleveraging preceded expansions.

XRP’s derivatives market exhibits unusual stability as open interest reaches lows not seen since early 2024, yet the cryptocurrency maintains a firm position above $2.60. This dynamic underscores a shift toward more sustainable market participation, with implications for traders monitoring futures activity. The reduction in open contracts eliminates much of the volatility tied to short-term bets, fostering an environment where fundamental factors may drive price movements.

Trading volume on major platforms remains consistent, with spot markets showing steady accumulation by long-term investors. According to on-chain data aggregated from exchanges, XRP’s holder distribution has skewed toward addresses dormant for over a year, reinforcing the narrative of conviction amid deleveraging. This pattern aligns with broader cryptocurrency trends where resets in derivatives often precede bullish phases, as observed in assets like Bitcoin during similar cycles.

Source: CryptosRus on X

Technical indicators further support this outlook. Xaif Crypto observes a solid rebound from the ascending channel support on the weekly chart, a key level that has held multiple times in 2025. This bounce demonstrates underlying demand, even as futures open interest contracts. The chart pattern, characterized by higher lows since early 2024, suggests XRP is embedded in a structural uptrend, with potential targets above $3.00 if resistance at $2.80 breaks.

Market sentiment, as reflected in social media discussions and analyst reports, leans cautiously optimistic. Platforms like X show increased mentions of XRP open interest reset alongside breakout predictions, though experts urge caution against over-leveraging. Regulatory developments, including Ripple’s ongoing efforts in cross-border payments, continue to bolster XRP’s utility, potentially attracting institutional interest that could amplify spot buying.

Frequently Asked Questions

What Causes an XRP Open Interest Reset to Early 2024 Levels?

An XRP open interest reset occurs when traders close leveraged positions due to market corrections or profit-taking, reducing total outstanding contracts below $200 million as seen on Binance. This mirrors early 2024 conditions when speculation waned, leading to a stable base for later growth. Data indicates such resets often precede rallies by flushing weak hands.

Is XRP Poised for a Price Breakout After This Open Interest Drop?

Yes, the XRP open interest drop to early 2024 levels, combined with price stability above $2.60, sets up favorable conditions for a breakout. Analysts like CryptoRus point to similar May 2025 patterns that drove surges to $3.50. Sustained spot demand and low leverage could propel XRP higher if broader market liquidity improves.

Key Takeaways

• XRP Open Interest Reset: Fallen below $200 million on Binance, echoing early 2024 lows and indicating deleveraging of speculative trades.
• Price Stability: XRP holds above $2.60 despite futures contraction, highlighting strength from long-term holders and spot accumulation.
• Breakout Potential: Historical data shows resets like this often lead to rallies; monitor ascending channel support for confirmation of uptrend continuation.

Conclusion

The XRP open interest reset to early 2024 levels marks a pivotal moment in its derivatives market, with implications for future price action amid steady trading above $2.60. As leverage diminishes, strong holders gain prominence, potentially paving the way for a major breakout similar to past cycles. Investors should track technical supports and liquidity inflows closely, positioning for opportunities in this evolving cryptocurrency landscape.