NewsBTC
Apr 29, 2026 upd. 7 Jun

XRP futures Open Interest Z-Score drops to levels before 2024 600% rally

2 min

XRP futures leverage reset. Open Interest Z-Score sits near zero.

Analyst Xaif Crypto reports a sharp cooldown in derivatives activity. He highlights that XRP positioning is now neutral. The Z-Score flattened near zero. Speculation faded and leverage dropped.

XRP Open Interest Z-Score chart

The last similar setup preceded a strong expansion. XRP rallied 600% from $0.50 to $3.40 in 2024. Momentum cooled after that phase.

Open Interest has trended down since a blow-off in November 2025. Xaif Crypto notes OI is now flat across major venues. Binance, ByBit, OKX show subdued activity.

  • OI Z-Score near zero source
  • Binance leverage ratio around 0.15 source
  • OI flat across top exchanges source

Context matters for price. XRP traded $0.40–$0.70 through 2024 during the SEC case. Range persisted while the lawsuit weighed. The case started in December 2020. Settlement came in 2025.

Sentiment flipped late 2024. XRP jumped over 400% in November. Price topped $2.5 from $0.50. It reached $3.40 by January 2025. Then $3.6 in July, near the $3.84 ATH.

Xaif Crypto adds a timing note. Low leverage often precedes big moves. He sees reduced pressure now. New inflows could move price fast.