XRP Open Interest on Binance Falls to $406M, Lowest Level Since November 2024

Over the past month, XRP has dropped more than 26% in price, while its open interest on Binance has slid to $406 million, the lowest reading since November 2024. This reduction in leveraged positions is seen as a derivatives "reset" that may allow spot demand and on-chain activity to guide a potential trend reversal. At the same time, XRP's macro RSI has moved into the 45-50 zone that one analyst links to prior rebounds, and US spot XRP ETFs recorded $19.46 million of inflows on February 3rd.