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An imbalance in open interest of -2,490.73% has occurred, which is specifically related to the 15-minute change window. At first glance, that figure appears disastrous. In actuality, it is neither abnormal nor intrinsically pessimistic, and it does not necessarily suggest that the spot price of XRP will change significantly. The important thing is to know what that percentage really means.
XRP's derivatives market is alive
The change in open interest over a brief period of time is measured in relation to a very small base. Even a small absolute decrease in open contracts can mathematically explode into extremely negative percentages when the denominator is small. Open interest can fall well below -100% in this way. It does not imply that the market is more than fully unwound or that leverage has magically disappeared.
In the case of XRP, the data indicates that short-term traders are actively rolling or de-risking positions rather than capital escaping the asset. This frequently occurs when intraday traders close exposure ahead of volatility during times of low liquidity or in the vicinity of local consolidation zones. Thinner books frequently inflate derivatives metrics without producing significant price follow-through during holiday sessions.
XRP's price direction
Crucially, price direction is rarely determined solely by open interest contractions such as this one. Instead of demand, they describe positioning. A longer downtrend channel, falling moving averages, weak momentum and recurring support tests that do not result in panic selling continue to dominate XRP’s price action. This indicates that spot participants are not reactive but rather largely indifferent.
The fact that open interest flushes can actually be neutral to constructive is another important consideration. The market becomes mechanically cleaner when excessive leverage is eliminated. The price is then more sensitive to actual spot flows and less restricted by forced liquidations. While it eliminates a common source of artificial pressure, it does not ensure upside.
Instead of being an indication of structural stress, the -2,490.73% figure is a statistical artifact of short-term derivatives mechanics. It should not be regarded as a bearish trigger unless it is accompanied by increasing volume, aggressive spot selling or a breakdown of important supports.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team