XRP Open Interest Drops 33.47% as Bitcoin Funding Stays Positive

XRP recorded the steepest open-interest drop among five crypto assets in the Oct. 15 perpetual-futures snapshot, while its funding rate was negative and long accounts remained the majority.

At 7 a.m. ET (11:00 UTC), XRP open interest was $271.8 million, down 33.47% in 24 hours. Long accounts made up 72.8% of XRP accounts, compared with 27.2% short. Funding stood at -0.0047% every eight hours, or -5.2% annualized; its mark price was $1.31.

Bitcoin (BTC) funding remained positive at 0.0015% per eight hours, equivalent to 1.6% annualized. Open interest fell 1.41% to $7.45 billion, long accounts represented 63.9%, and the mark price was $80,998. In the Oct. 9 five-asset snapshot, Bitcoin open interest was $7.64 billion.

Ether (ETH) had the highest positive funding rate, at 0.0051% per eight hours, or 5.5% annualized. Open interest declined 3.33% to $5.49 billion, 75.8% of accounts were long, and its mark price was $2,367. With positive funding, long-position holders pay short-position holders.

Solana (SOL) was the only asset with rising open interest, up 4.53% to $933.5 million. Its funding rate was 0.0021% per eight hours, or 2.3% annualized; long accounts made up 72.1%, and the mark price was $102.33.

Dogecoin (DOGE) funding was -0.0022% per eight hours, or -2.4% annualized. Open interest fell 4.70% to $199.5 million, long accounts represented 70.4%, and its mark price was $0.0802.

Across the five markets, long accounts outnumbered short accounts in each, while open interest declined in four. XRP had the largest open-interest drop, and Solana was the only market with an increase.