XRP has been able to sustain momentum since it recently achieved a major price breakout, trading steadily in the green zone, but it appears that this rally may be drawing near its end.
While the XRP spot market has remained bullish, latest data from crypto analytics platform CryptoQuant suggests that this may no longer be the case for its derivatives market.
XRP leading altcoin season?
The broader crypto market recovery seen recently has triggered an addition of over $183 billion to the total altcoin market capitalization in just a few days.
While this represents a 20% increase in the altcoin market cap, a CryptoQuant analyst revealed that XRP was one of the biggest beneficiaries of the surge, as it also skyrocketed by about 70% during the same period.
Nonetheless, it appears that the massive XRP price rally has attracted a lot of speculative activity from traders, especially in the derivatives market.
While this was most notably noticeable on the world's largest cryptocurrency exchange, Binance, the data showed that XRP's net taker volume on the exchange has recorded its strongest selling pressure since the beginning of 2026.
Per the data, XRP's sell-side dominance has surged to about $96 million, suggesting that traders are increasingly aggressively betting against its recent surge.
XRP OI soars 14.8% on Binance
While the metric flashes a bearish signal for XRP and also threatens the continuity of its price rally, it also shows that the XRP derivatives market is becoming more active.
Amid the rising selling pressure in the XRP derivatives market, data shows that XRP's Open Interest has increased by about 14.8% on Binance alone.
U.Today Editorial Team
Dan Burgin
