XRP’s derivatives market experienced a dramatic $2.46 billion decline in Open Interest as positions unwound from a record $10.94 billion to $8.48 billion amid market volatility. This significant contraction followed heightened speculation around XRP’s price movements in recent weeks.
The sharp reduction coincided with a 13% price correction, driven partially by capital rotation toward Ethereum as the latter rebounded. Despite this volatility, XRP demonstrated notable resilience by finding firm footing between $3.10 and $3.20 – a historically reliable support zone signaling robust spot demand.
Market analysts interpret the massive leverage unwind as a healthy market reset rather than fundamental rejection. The token’s stability near key support levels reveals underlying buying pressure and accumulation. Trajectory analysis suggests potential for a decisive breakout should XRP overcome the $3.50 resistance threshold.