Stablecoin-margined XRP open interest on Binance fell to about $186 million on July 31, its lowest level since April 2025, according to CryptoQuant. Bybit held roughly $229 million in the same contract type, about $43 million more than Binance. XRP trades near $1.

Source: [CryptoSlate](https://cryptoslate.com/with-leverage-outnumbering-spot-volume-6-to-1-xrp-traders-are-walking-a-2-36b-tightrope/)

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