XRP Open Interest Sinks Nearly 60% From July $1.76 Billion Peak As Price Holds Below $2

XRP is trading just under the $2.00 level around $1.89 while its derivatives market shows a deep reset, with Binance open interest dropping from a July 17 peak of $1.76 billion to under $500 million and nearly 60% off highs. The October 10 liquidation event accelerated deleveraging as price slid from $3.55 to $1.83, leaving leverage and speculative activity significantly reduced and XRP consolidating near key moving average supports.