XRP continues to leave Binance, while derivatives traders still appear reluctant to rebuild aggressive leveraged exposure.

The data shows Binance’s cumulative XRP netflow value has fallen from around -$10.4 billion in mid-August 2025 to -$11.23 billion now, signaling a continued drain in XRP supply on the exchange.

Meanwhile, Binance XRP open interest has stayed only slightly above $200 million since mid-February 2026. That suggests speculative activity remains present, but not at the kind of elevated levels typically associated with stronger high-leverage conviction.

The takeaway is clear: exchange supply continues to thin, but derivatives traders are still not betting aggressively.

That leaves XRP in a market structure where available supply is weakening, yet speculative appetite remains muted.

Written by Amr Taha