XRP open interest across major derivatives platforms has declined approximately 23% in under a month, falling to roughly $871 million from $1.128 billion in late August. The shift wiped out close to $257 million in outstanding positions.
Binance experienced the steepest decline among exchanges, with open positions dropping from $558 million in August to $423 million. Bybit fell to approximately $291 million from $379 million, while OKX dipped to $107 million from $125 million.
The reduction points to traders closing or liquidating positions established during the summer rally rather than new bearish bets. Lower open interest reflects decreased derivatives exposure and trader repositioning, though it does not by itself signal a continuing bearish trend.
The decline follows a difficult week for XRP following the Senate's failure to advance the CLARITY Act on September 15. XRP fell 8% in the 24 hours after the announcement, dropping from around $1.46 toward $1.27. The token is currently trading around $1.30, down nearly 7% over seven days and 5.5% over 14 days, though it remains up more than 30% over one month. Trading volume stands at approximately $3.6 billion, down 39% from the previous day.
Technical analysis suggests XRP is testing key support levels. The weekly 20 exponential moving average at $1.29 represents a critical juncture, with a weekly close above that level potentially supporting a rebound and a close below it possibly allowing further retracement. The $1.24–$1.26 zone is being monitored as support, with $1.14–$1.10 and $1.00 identified as lower levels if support continues to fail.
