Data from major perpetual futures exchanges reveals a growing bullish sentiment among XRP traders, even as a key market metric signals caution. According to analyst CW8900, referencing data from CoinAnk, the number of long positions for XRP on platforms like Binance Futures, Bybit, and OKX has increased and now exceeds the number of short positions. This shift suggests growing expectations for a price rise.
This optimistic positioning in derivatives coincides with positive fundamental developments for Ripple. In the past week, the company announced plans for a strategic acquisition to secure a financial license in Australia, was listed on Mastercard's new crypto-focused platform, and initiated a massive share buyback.
However, this bullish sentiment is contrasted by a sharp decline in overall market exposure. As reported by CryptoPotato, open interest—the total value of active futures contracts—has been dropping across several exchanges. Derivatives data shows XRP's open interest has collapsed from a peak near $660 million in October 2025 to approximately $203 million by early March 2026, representing a loss of over $457 million.
Analysts from CryptoQuant interpret this massive leverage flush as a bullish reset for the market. They argue that the elimination of overleveraged positions removes speculative excess, reduces the risk of sudden liquidation-driven price swings, and creates a "cleaner" market structure. This reset is seen as a prerequisite for healthier long-term growth.
Further data from Binance over the past 90 days shows a subtle shift: aggressive buy orders (516.4M XRP) slightly outpaced sell orders (513.1M XRP), resulting in a net taker delta of about 3.36 million XRP. Analysts view this as an early sign that buyers are beginning to regain control of market orders after months of selling pressure dominance.
Technically, XRP is trading around $1.42, within a support zone of $1.30–$1.33 and facing immediate resistance near $1.45. A confirmed breakout above $1.50 could signal the start of a broader recovery phase, contingent on whether the improved derivatives data translates into sustained buying pressure in the spot market.
