News
XRP Futures Rebuild Following $40 Million Long Liquidations Across Exchanges
XRP experienced a 1.6% price rebound between October 8 and October 10 while spot turnover on Binance dropped by 78.6%. Market data from XRPL.to revealed $40.70 million in long liquidations across Binance, Bybit, and OKX during October 7 and October 8. Binance accounted for $24.69 million of the liquidated long positions, while Bybit and OKX recorded $11.65 million and $4.36 million, respectively. Futures open interest initially contracted across exchanges, with Binance open interest declining by 8.1% between October 8 and October 9. Open interest partially rebuilt by midnight on October 11, adding 3.72 million XRP on Binance and 6.46 million XRP on Bybit. Futures funding rates on Binance and Bybit shifted back into positive territory by October 10 after previously settling at negative rates. Binance spot trading volume dropped from 252.45 million USDT on October 8 down to 54.12 million USDT on October 10.