Binance’s XRP futures open interest reached $232.7 million on August 17, a 28.6% jump in two weeks and the highest level since June. However, this surge is accompanied by a negative cumulative volume delta of $463.2 million, indicating that new short positions are being opened rather than long positions. Whales have reduced their inflows to a three-month average of $61 million, their lowest level since 2021, while on-chain active addresses hit a two-month high, suggesting increased retail participation. XRP’s price hovers around the psychological $1 threshold without managing to break and hold it, reinforcing the bearish scenario in futures markets.
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