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Open Interest in XRP surges sharply after breaking above the $3 threshold
According to CryptoQuant, as of October 5, open interest (OI) in XRP surged to nearly $2.92 billion.
The sharp increase in leveraged positions coincided with XRP’s price fluctuations above the $3 threshold, which has acted as a major resistance level throughout the year.
The chart illustrates how XRP’s open interest has evolved alongside its price over the past 18 months. At the end of 2024, it remained below $1 billion, while the token was trading under $1.
As speculative capital flowed in early 2025, open interest climbed above $3 billion, and XRP’s price rose to $3.50. This surge in leveraged activity was followed by a wave of liquidations, bringing OI below $1.5 billion by mid-2025.
Currently, open interest has rebounded, nearly reaching its previous peaks at $2.9 billion. This trend indicates that traders are taking leveraged positions around the same levels where XRP historically faced strong resistance.
If XRP decisively breaks above $3, the rise in open interest could trigger a rally, forcing short sellers to close positions and driving the price higher. Conversely, if the price drops toward the $2.90 support zone, highly leveraged long positions may face liquidations, leading to further downside pressure.
See also: "Bitcoin: decline after record high, driver — ETF"
