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XRP Open Interest Falls 26.5% Amid $2 B Sell‑Side Imbalance
Between September 23 and October 16, combined open interest for XRP on Binance and Bybit dropped 26.5%, according to CryptoQuant analyst Amr Taha. Sell‑side trading imbalances rose by nearly $2 billion across centralized spot exchanges and Binance perpetual contracts. Binance open interest fell from 302 million to 228 million (24.5%), while Bybit’s declined from 359 million to 258 million (28.1%). The total combined open interest decreased from 661 million to 486 million, a loss of 175 million. Spot cumulative volume delta worsened from –$1.9 billion to –$3.2 billion, indicating additional aggressive selling pressure.