Why is XRP Failing to Hold $1? Binance Data Holds the Answer

Short positioning against XRP is building on Binance, while whale deposits to the exchange have collapsed to their lowest level in four years.

The combination leaves the market with crowded bearish bets and thinning sell-side supply.  XRP Open Interest Rebuilds After July Contraction Binance XRP open interest climbed from roughly $181 million on August 3 to $232.7 million on August 17, according to analyst Amr Taha.

This marks a 28.6% increase in two weeks and the highest reading since June 2026. The rebuild reverses a sharp contraction. Open interest on Binance hit a three-month low in July, and the seven-day change sat near negative $40 million on July 29.

That figure has since flipped to a positive $38.9 million. Direction, however, favors sellers.