Key Highlights
- XRP touched an intraday bottom of $0.98 and currently hovers around $1, representing a 68% decline from its yearly peak of $3.65
- Open interest in futures contracts reached $2.78 billion, marking a 2% increase over 24 hours, while trading volume jumped 55%
- Major exchanges Binance and OKX show traders maintaining heavily bullish positions with a 3.6-to-1 long-to-short ratio
- Social media sentiment across X, Reddit, and Telegram dropped to its lowest level in three months, according to Santiment data
- The XRP ledger registered approximately 50,000 active addresses within 24 hours, marking the highest activity level in over two months
XRP is currently hovering around the $1 threshold following Monday’s intraday dip to $0.98. The digital asset has experienced a dramatic 68% correction from its peak above $3 achieved in the previous year.
Contrary to what the price decline might suggest, market participants are maintaining their positions. Open interest in XRP futures contracts expanded to $2.78 billion on Monday, reflecting a 2% uptick across a 24-hour timeframe, based on CoinGlass analytics.
Simultaneously, trading volume experienced a substantial 55% surge, climbing to approximately $1.17 billion during the same period. This uptick in activity suggests heightened engagement rather than capitulation, even as downward price pressure persists.
Data from Binance reveals that for every trader holding a short position on XRP, more than three are maintaining long positions. Among the platform’s largest traders, the long-to-short distribution stands at 3.6-to-1. The same 3.6-to-1 ratio is evident on OKX as well.
Taking a long position represents a wager that prices will appreciate. When traders employ leverage, they can control larger positions, though this amplifies risk as adverse market movements can trigger automatic liquidations.
Market Sentiment Deteriorates While Positioning Remains Bullish
Discussions surrounding XRP across social media platforms have turned increasingly pessimistic this week, hitting a three-month nadir according to blockchain analytics provider Santiment. Conversations on X, Reddit, and Telegram have soured following XRP’s inability to sustain upward momentum.
This divergence is noteworthy. While public sentiment has deteriorated, traders with capital deployed continue wagering on a price rebound.
The aggregate long-to-short ratio across all trading platforms stands at approximately 0.93 over the past 24 hours, indicating a relatively balanced market overall. The pronounced bullish skew is primarily concentrated on Binance and OKX.
Blockchain Activity Shows Renewed Momentum
Approximately 2.77 billion XRP tokens are currently locked in open futures contracts, up from roughly 2 billion tokens earlier in the summer months.
The XRP ledger recorded nearly 50,000 active wallet addresses during a 24-hour measurement period, representing the highest activity count observed in more than two months. Network activity had previously been trending toward 2026 lows throughout July.
An active address represents any wallet that either transmitted or received tokens during the measurement window. This metric demonstrates increased network utilization, although it doesn’t distinguish between accumulation or distribution behavior.
During Monday’s Asian trading session, XRP is exchanging hands around $1, while Bitcoin maintains levels above $64,000 during the corresponding timeframe.
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