XRP Perpetual Contracts Experience Significant Decline in Open Interest

On-chain analytics platform Glassnode reported on X that XRP perpetual contracts have seen a significant reduction in open interest following a major deleveraging event in early October 2025. According to Odaily, the open interest dropped from 7 billion to 2 billion XRP, marking a 71% decrease. Subsequently, the market positions further contracted, with open interest declining by an additional 25% to 1.5 billion XRP. The current market has not yet rebuilt speculative positions, indicating that derivatives traders remain cautious and risk appetite has not fully recovered.