Leveraged trading in XRP is coming back. CryptoQuant analyst Arab Chain flagged that the 30-day Open Interest Z-Score for XRP futures on Binance has risen to approximately 1.60, a level that puts current open interest noticeably above its 30-day historical average of 418.5 million XRP. Total open interest now sits at roughly 440.6 million XRP, with the standard deviation reaching around 13.8 million tokens, pointing to a clear uptick in derivatives participation over the past month.
What the numbers actually say
A Z-Score of 1.60 sounds technical, but the practical reading is straightforward: more traders are putting money to work in XRP futures than they were on average over the last 30 days. That said, Arab Chain was quick to put a ceiling on the optimism. During XRP's 2025 peak, open interest blew past 1 billion XRP and the price ran hard alongside it. The current 440 million figure is less than half that. Participation has improved, but the gap to those earlier levels is still wide.
Arab Chain outlined two scenarios from here. If price and open interest climb together, that typically signals genuine confidence building among traders and can support a sustained bullish trend. If open interest keeps rising while price stalls or drifts lower, the setup flips: it means traders are piling into speculative leveraged positions without price confirmation, leaving the market exposed to cascading liquidations and sharper swings in either direction.
How the price chart reads right now
XRP was trading near $1.13 at the time of the report. It holds above the 20-day EMA at $1.11, which gives bulls a thin technical foothold, but the 50-day EMA at $1.1448 is sitting just overhead and capping gains. The 200-day EMA at $1.43 is a much heavier ceiling and shows how far the token still is from reclaiming its longer-term trend. The RSI at 55.24 is above the neutral 50 line but not showing any real thrust, and the MACD remains in a similarly non-committal zone. Buyers and sellers are essentially deadlocked in a tight range with no clean breakout signal yet.
This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
