XRP’s price performance is shedding fast-money participation and attracting a more resilient class of holders, according to data from CryptoSlate. Currently trading at $1.37, XRP has seen a 55% decline in the last six months.
CoinGlass data shows that XRP’s open interest has dropped to $2.40 billion from a peak of $10.94 billion in July 2025, marking a significant 78% decrease. This decline indicates a market that has purged much of the speculative leverage that fueled the token’s previous rally following Donald Trump’s 2024 victory.
Despite the decrease in open interest, there are signs of longer-term commitment in the XRP market, with significant whale accumulation and transfers away from exchanges. Additionally, spot XRP exchange-traded funds (ETFs) still hold over $1 billion worth of assets, highlighting a base of holders willing to weather volatility.
The derivatives market for XRP has also experienced a shift, with open interest across major futures venues dropping sharply from mid-2025 peaks. Binance remains the largest venue, with $222 million in XRP open interest. Liquidation events have primarily affected long traders, leading to a more neutral market posture.
On-chain and ETF flow data suggest that while speculative positioning has decreased, a different cohort has maintained exposure during the selloff. Large exchange outflows, such as the ones seen on Feb. 6 and Feb. 9, indicate potential accumulation by whales or institutions.
XRP ETFs have accumulated over $1.4 billion since their launch in November, despite a significant drawdown in XRP’s price. This resilience is attributed to committed buyers, indicating a loyal following of XRP superfans.
Ripple’s expanding regulated footprint adds another layer of support to the XRP market, with the company securing licenses globally and scaling its business infrastructure. Ripple Payments is active in over 60 major markets and has processed more than $100 billion in volume. The company’s stablecoin business and institutional financial platform further contribute to XRP’s support narrative.
Overall, XRP’s market tone has shifted, with a base of holders less reliant on momentum traders and more focused on company-specific narratives surrounding regulated access and financial infrastructure.
