- Binance users are selling XRP
- XRP open interest dips 3.61%
XRP is seeing its first price dip in 2026 amid the broad shift in market sentiments. While the massive rally it saw earlier this year has delivered notable gains to holders, it appears that traders are beginning to take profit.
Amid this declining momentum, on-chain data from CryptoQuant shows that about 2,692,600,000 XRP is currently sitting on the world’s largest cryptocurrency exchange, Binance.
Binance users are selling XRP
The surge in the XRP reserve on Binance has flashed warning signs that the ongoing price slump might be prolonged, as holders appear to be selling off their assets.
Although exchange reserves are key indicators of liquidity and accessibility, they often represent impending headwinds on the concerned asset’s price action, hinting that a major price move, either bad or good, may be coming soon.
As such, it is important to note that increases in exchange reserves, as seen in the current XRP reserve on Binance, represent an early warning sign for a deeper price drop in the price of the asset.
While nearly 2.7 billion XRP is currently sitting on Binance, the XRP exchange reserve on the platform has increased decently by 0.30% over the last day.
This implies that traders on Binance are increasingly selling off their assets, possibly to take profits after the prolonged Q4 2024 volatility or to hedge against potential market bloodbaths in the new year.
XRP open interest dips 3.61%
The bearish trend seen in XRP’s on-chain activity and trading price has also extended to the futures market, as only 1,960,000,000 XRP have been committed in active futures contracts as of January 8.
With the declining momentum, XRP open interest across all supported exchanges has declined by 3.61% over the last 24 hours. This suggests weakening investor confidence as momentum continues to fade.
Source: TradingViewAmid the negative market trend, XRP has slumped by 3.28% over the last 24 hours, and it is trading at $2.12 as of writing time.
Source: https://u.today/2692600000-xrp-turn-bearish-as-binance-users-ignite-selling-pressure
