XRP rebounded as Binance spot turnover fell nearly 80%
XRP futures exposure began recovering by October 11 after heavy long liquidations on October 7–8. XRPL.to recorded $40.70 million in long liquidations across Binance, Bybit and OKX, though its streamed sample may undercount events. Binance and Bybit open interest in XRP units fell 8.1% and 6.6% from October 8 to 9, then rose by October 11, while remaining below October 8 levels. Funding shifted from negative to mostly positive, indicating a carrying cost for longs. Binance spot turnover fell 78.6% from October 8 to 10 as XRP’s price edged higher, with buyer-initiated trading inconsistent. The data suggests renewed leveraged exposure, but offers limited evidence of sustained spot buying; futures exposure does not mean equivalent purchases of XRP tokens.
