XRP Jumps 8% to $1.44: OI Hits $2.21B, Funding Stays Cool
XRP Jumps 8% as Shorts Pay 86.5% of $10.75M in Liquidations
XRP staged one of the bigger reversals of the session, climbing 8.3% in 24 hours to $1.4409 on Binance, with OKX quoting $1.4408 at the same time. The move erased most of the pullback that had dragged the token to a $1.326 low on Binance earlier in the window. On OKX the 24-hour range ran from $1.3263 to $1.4670, and the asset tagged a $1.4699 high on the aggregated feed before settling back.
The squeeze shows up in the liquidation data. XRP recorded $10.75M in 24-hour liquidations, and 86.5% of that hit short positions, roughly $9.3M against $1.45M of long liquidations. The last hour has been even more one-sided across the market, with shorts accounting for 96.7% of $216.7M in network-wide liquidations as Bitcoin climbed back toward $80.6K.
Open Interest Climbs 10.3% to $2.21B as Fresh Money Arrives
Open interest added 10.3% over 24 hours to $2.21B, and the build is broad. Binance remains the largest venue at $445.5M, up 9.6%, holding a 20.2% share of the total. Gate, OKX and Hyperliquid grew faster: Gate added 13.8%, OKX 14.9% and Hyperliquid 15.2% in the same window. Four-hour changes are positive across the board, which matters because new positions were opened as the price pushed toward session highs, not just old shorts getting flattened.
The per-venue mix tells a similar story. Bybit holds $304M, up 8.1%, and Bitget $242M, up 4.3%. None of the top venues cut exposure during the rally, a contrast with earlier in the week when XRP open interest shrank as the price fell.
Funding Stays Cool Even After an 8% Rally
What stands out is what did not happen to funding. Perpetual funding rates across the biggest venues sit between 0.001% and 0.01% per 8-hour interval, all positive but far below the levels that usually mark a crowded, one-way trade. Binance prints 0.0016%, OKX 0.01%, Bybit 0.0078% and Hyperliquid 0.0013%. After a move of this size, longs paying heavy funding would signal overheating; instead the curve looks closer to neutral, and Kraken and Whitebit are still slightly negative.
Price up hard with open interest building while funding stays mild points to fresh positioning rather than a leveraged chase. It leaves room for the rally to extend without an immediate funding overhang, though it says nothing about direction on its own.
What to Watch: the $1.467 Breakout and New Longs at Risk
The immediate level is the 24-hour high near $1.467 on OKX and $1.4668 on Binance. A clean break above it would extend the recovery that started from the $1.32 zone. The flip side is that open interest added in the last four hours, roughly 7% to 12% depending on the venue, was opened near the highs. If momentum stalls and price rolls back, that fresh leverage becomes the next liquidation pool.
Context matters too. Bitcoin sits at $80.6K, up 4.7%, and network-wide 24-hour liquidations reached $455.8M with shorts paying 85.2%. XRP's move is part of a broad short-covering session across majors rather than an isolated spike, so BTC follow-through is the swing factor to watch.
Data as of 22:58 Beijing time, covering Binance, OKX, Bybit, Gate, Bitget and Hyperliquid among major exchanges.