In Brief:
- XRP gained over 70% from its late August lows, while analyst Darkfost placed its price near $1.50 amid growing futures activity.
- Binance open interest growth reached its strongest reading since August 2025, although the metric cannot establish which futures traders dominate.
- A negative $115 million net taker volume reading reflects sell-side pressure, leaving XRP vulnerable if leveraged buyers close their positions.
CryptoQuant analyst Darkfost has linked XRP’s rebound to rising Binance futures activity, even as aggressive selling complicates the market picture. According to his latest analysis, XRP gained over 70% from its late-August lows while Binance open interest growth reached a yearly high.
XRP Price Rally Coincides With Open Interest Growth
At the time of the analysis, XRP traded at $1.50 with an estimated 50% monthly gain, coinciding with the changes in open interest on Binance. According to the data, XRP’s open interest averaged a monthly growth of 1.3% on the exchange, its strongest growth since August 2025.
Meanwhile, Darkfrost explained that two possibilities often explain this change. On the one hand, the rally could have attracted more buyers who have opened both long and short positions on XRP. On the other hand, the bullish momentum could have raised the value of the open positions mechanically.
Although the growth has eased, it remains positive, while rising prices can also increase existing positions’ dollar value without an equivalent increase in contracts.
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Source: CryptoQuant
Binance Sell Orders Challenge the Rebound
Darkfost also examined net taker volume, which compares immediate buy and sell market orders, and reported a negative $115 million seven-day average on Binance, indicating that sell orders outweighed buy orders. According to his analysis, the imbalance represents the strongest sell-side reading since December 2025.
“If this persists, XRP could fall further until an extreme consensus is reached, a signal that often precedes a potential reversal,” he added.
Conversely, stronger buying could force bearish traders to close positions and support the price. Ultimately, XRP’s futures market combines growing exposure with a sell-side imbalance, leaving the rally’s underlying demand uncertain.
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