XRP (XRP) Price: Open Interest Falls 14% After $14.2M Liquidation Flush

TLDR

• XRP open interest fell 14%, from $558 million to $478 million, after $14.2 million in two-way liquidations.
• Funding rates slipped to -0.002, ending a 14-session streak of positive funding.
• Binance reserves held near 2.6176 billion XRP even as deposit addresses dropped 91%.
• XRPL’s recorded asset value climbed from $99 million in Q1 2025 to $4.26 billion in Q2 2026, with RLUSD transfers up 925% year-over-year.
• Analyst Dark Defender says XRP’s chart is repeating patterns seen before the 2014 and 2017 rallies, ahead of a Senate vote on the CLARITY Act.

XRP saw a leverage reset this week. Traders on both sides of the market got liquidated within 48 hours.

Open interest fell 14%, from $558 million to $478 million. Leverage on the token dropped from 0.203 to 0.182.

The reset came after $14.2 million in two-way liquidations. Both long and short positions were affected.

Funding rates also slipped, moving to -0.002. That ended a 14-session streak of positive funding.

Despite the shakeout, exchange supply did not rise. Binance reserves stayed near 2.6176 billion XRP.

Deposit addresses sending XRP to Binance dropped 91%. Holders did not rush to move coins onto the exchange.

XRP Price on CoinGecko

XRPL Asset Growth Continues

While leverage cooled, activity on the XRP Ledger kept growing. Recorded asset value rose from $99 million in Q1 2025 to $4.26 billion in Q2 2026.

Every quarter added to that total. Evernorth’s Q2 report also showed trading volume up 68% year-over-year, even as it eased from Q1 levels.

Real-world assets on XRPL are mostly represented through registry-style instruments. This points to institutional custody rather than assets moving freely between users.

RLUSD stablecoin activity moved differently. Transferred value on RLUSD rose 925% year-over-year, alongside more holders and trust-line openings.

Analyst Points to Historical Chart Pattern

Crypto analyst Dark Defender posted a weekly XRP chart on X. The chart showed price sitting above several long-term exponential moving averages.

Dark Defender wrote that XRP is repeating “2017 and 2014 Exponential Moving Average Jumping Patterns,” regardless of what happens with the CLARITY Act. The chart labeled a further move higher as “The Frog Leap,” with a target near $18.23.

That level would mark roughly a 1201% increase from current prices. The analyst said the target for an all-time high is closer than many expect.

The CLARITY Act cloture vote is scheduled for September 15 in the Senate. The bill needs 60 votes to advance, and Republicans hold 53 seats.

Former federal prosecutor Mariotti said the bill has lost momentum, calling the CLARITY Act “dead.” Sen. Cynthia Lummis said delay would push market structure legislation to 2030.

Separately, $22 billion in U.S. Treasury buybacks is expected in the coming weeks, a factor some traders are watching alongside the vote.

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