XRP Price Holds Above $1.29 as Futures Leverage Resets

XRP price trades near $1.30, going up by as little as 1%, even as open interest across its derivatives market has fallen from $1.128 billion in August to $871.22 million now, a decline of more than $250 million in under a month.That gap between a resilient spot price and a shrinking futures book forces a specific question: is this a genuine retreat of bullish conviction, or a leverage reset happening alongside steady spot demand?

Trade XRP on Bybit and Get a Chance to Win Our $1,000 USDT AirdropWhy Falling Open Interest Does Not Yet Confirm a Bearish Turn?A drop in open interest typically means traders are closing futures positions, getting liquidated, or repositioning ahead of a move.

This particular decline does not automatically signal a bearish shift in Ripple’s token; it may simply reflect traders cutting exposure rather than committing to a directional bet.The venue-level numbers back that reading.

Binance open interest fell from $558 million to $423 million, while Bybit dropped from $379 million to $291 million over the same stretch, a broad-based contraction rather than a single-exchange anomaly.What keeps this from reading as outright capitulation is positioning and funding.