XRP Trades Under Heavy Structure as Derivatives Pressure Continue

XRP remains under visible pressure as price continues to trade below key technical levels, reflecting a broader lack of conviction across both spot and derivatives markets.

On the daily chart, XRP is holding near the lower end of its recent range. Failing to reclaim previous resistance zones that have repeatedly capped upside attempts.

Price action shows a clear sequence of lower highs since the late 2025 peak, with repeated rejections near the $2 level.

Moreover, the inability to sustain recoveries above trend resistance suggests sellers remain active on rallies. Keeping momentum muted despite short-term bounces.

Volume trends reinforce this view. While sporadic spikes appear during sharp moves, sustained follow-through has been limited. This indicates that buyers are not yet stepping in with size.

As long as XRP remains below its declining resistance structure, upside moves are likely to face friction.

Open Interest and Exchange Flows Signal Cautious Positioning

Total XRP open interest currently sits near $3.38 billion, with recent 24-hour changes showing a noticeable contraction. Therefore, this decline points to position unwinding, a common feature during consolidation or corrective phases.

On the other hand, exchange-level data highlights Binance as the dominant venue for XRP derivatives exposure, accounting for a meaningful share of total open interest.

However, the recent net reduction in open interest across major exchanges suggests traders are scaling back risk rather than pressing directional bets.

Furthermore, both inflows and outflows show episodic spikes, but without a clear sustained trend. Notably, past periods of elevated exchange inflows coincided with price weakness. Reinforcing the idea that supply has intermittently moved toward trading venues during declines.

From a structural standpoint, this combination of soft open interest, mixed exchange flows, and suppressed momentum reflects a market waiting for clarity.

*XRP exchange inflows spike during periods of heightened volatility, signaling increased supply moving onto exchanges as price weakens.*

What This Means Going Forward

In the near term, XRP’s outlook remains tied to whether it can reclaim key resistance zones and stabilize above them. Without that shift, rallies are likely to remain corrective in nature.

That said, the absence of extreme leverage and the gradual cooling in derivatives exposure may help reduce downside volatility. Therefore, if broader market conditions improve and risk appetite returns, XRP could benefit from a cleaner base forming at current levels.

For now, the data points to patience. XRP is in a holding pattern, shaped by controlled risk, reduced leverage, and a market still searching for its next catalyst.