XRP Derivatives Collapse Deepens as Open Interest Collapses 71%: Glassnode

The XRP market continues to weaken as open interest and investors suffer huge losses.

Investors are becoming increasingly cautious due to ongoing geopolitical turmoil. The XRP market is also seeing significant weakness as traders appear to be pulling out of cryptocurrency assets.

In fact, new data suggests that the XRP derivatives market has taken a major hit.

Weak speculative demand

Vitreous node I mentioned After the deleveraging event in early October 2025, the perpetual open interest for XRP dropped sharply from 7 billion to 2 billion tokens, a 71% decline.

The analytics firm noted that trading positions continued to shrink, and open interest fell by another 25% to 1.5 billion XRP. This pattern likely means that speculative activity remains low across derivatives markets.

In a separate update last week, Glassnode noted that more than half of the XRP supply remains underwater. Investors who accumulated more than $2 over the past 12 months have seen losses on average $20 million to $110 million per day since November 2025, as selling pressure continues.

Amid this backdrop of weak participation and losses, XRP is seeing widespread pessimism. Santiment I mentioned This fear, uncertainty, and doubt surrounding XRP has risen to its third highest level in the past two years. This change comes after prices fell by more than 60% over the past nine months, prompting many retail sector participants to exit the market.

Historically, such spikes in bearish sentiment have coincided with a greater likelihood of relief rallies, as prices often move against prevailing expectations. As such, the current market structure can represent an entry point.

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Target points

Analyst Ali Martinez It has been marked XRP continues to trade within a large ascending triangle that has been forming on the monthly chart for nearly nine years. According to his analysis, the asset repeatedly faced rejection at a key resistance level of $3.30 before retreating to the rising support trend line.

After the last rejection in August 2025, XRP is expected to retest the $0.75 to $0.80 range. Martinez also described this area as a major accumulation area, noting that a breakout from this long consolidation could lead to a major move.