Cryptocurrency exchange BulkTrade has restricted XRP trading to reduce-only and post-only mode, citing unusual activity on its order books. The move prevents traders from opening new positions and allows only closing existing positions or placing liquidity-adding orders.
The restriction was announced on September 9, 2026, after unusual patterns emerged in the XRP market. BulkTrade indicated the decision aims to mitigate risk and protect market integrity, underscoring the cautious stance exchanges are taking amid uncertain market conditions.
The action coincides with a striking divergence in XRP markets. XRP futures trading volume hit a six-month high in August, reaching its highest level since February 2026. Binance led with $37 billion in XRP futures volume, followed by Bybit at about $14.54 billion and OKX at around $12.88 billion. Spot XRP ETFs have also posted eight consecutive weeks of steady inflows, with the crypto asset class recording its highest weekly inflow of the year in the last week of August, according to SosoValue.
Despite these positive derivatives and ETF flows, XRP's price has stalled. Analysts point to retail traders taking profits as the primary reason for the disconnect between futures activity and spot price performance. Traders now watch for signs of increased volatility once BulkTrade's restrictions are lifted and for any broader exchange policy changes.
