Binance XRP Perpetual Open Interest Gains 11% Over Seven Days

Open interest in XRP’s Tether (USDT)-denominated perpetual futures market on Binance rose about 11% in dollar value over seven days through 7 p.m. ET Wednesday, Nov. 4 (00:00 UTC Nov. 5), while a later reading showed long accounts held a majority.

The market’s open interest increased from $404.2 million at 8 p.m. ET Oct. 28 (00:00 UTC Oct. 29) to $448.7 million at the end of the seven-day period. Measured in XRP, open interest rose 13% over the same interval. The percentages use different measures: dollar value and XRP units.

At 11:55 p.m. ET Nov. 4 (04:55 UTC Nov. 5), open interest stood at $450.4 million. Long accounts made up 72% of accounts, while top traders were 69% long by position size. The top-trader figure measures positions by size; the account figure counts accounts.

Open interest counts contracts that remain open, counting one side of each contract even though every contract has a buyer and a seller. Its increase alone does not show whether long or short positions drove the change. The long-account and top-trader readings describe positions at the later snapshot, not which side caused the increase over the week.

XRP open interest also rose 20.88% over 24 hours in a Nov. 3 five-asset derivatives snapshot.