XRP Open Interest Jumps Nearly 20% on MEXC as $1 Support Faces Major Test

Summary

• XRP open interest surged nearly 20% on MEXC, while broader exchange activity increased 0.86% to $2.25 billion amid volatility.
• XRP traders faced $18.83 million in liquidations, with long positions accounting for 94% as bearish pressure intensified across markets.
• XRP funding rates remained slightly positive at 0.0080%, while rising spot selling pressure threatened the cryptocurrency’s critical $1 support level.

XRP derivatives activity has increased significantly on MEXC as the cryptocurrency struggles to maintain its position above the $1 support level. The development comes amid growing selling pressure and substantial liquidations across the broader market.

Open interest on MEXC climbed nearly 20%, while total XRP open interest across exchanges increased 0.86% to $2.25 billion. Meanwhile, XRP traded at $1.02, reflecting a 1.46% decline over the previous 24 hours.

XRP Futures Liquidations Reach $18.83 Million as Bearish Positions Increase

Derivatives data showed that XRP traders recorded $18.83 million in liquidations over 24 hours, with long positions accounting for 94%. The figures indicate substantial losses among traders expecting higher prices as XRP struggled to maintain its support levels.

Meanwhile, rising open interest alongside declining prices suggests traders may be establishing additional short positions. Nevertheless, open interest alone cannot establish whether new contracts favor buyers or sellers.

XRP briefly dropped to $0.9961 before recovering above $1, highlighting the importance of this psychological threshold. Additionally, liquidation data identified a concentration of leveraged long positions below $1, increasing the potential for further forced closures.

XRP Funding Rates Show Limited Bullish Positioning Despite Selling Pressure

Despite growing derivatives exposure, XRP funding rates remained slightly positive, suggesting limited bullish positioning among perpetual futures traders. The funding rate stood at 0.0080%, below the 0.01% baseline, indicating relatively modest demand for long positions.

Meanwhile, spot trading volume increased 46.7%, with sellers exceeding buyers by approximately $48.2 million. Furthermore, U.S. spot XRP exchange-traded funds recorded zero net flows on November 12, indicating limited institutional demand through these investment products.

XRP Price Faces Critical Support as Derivatives Exposure Expands

XRP’s $1 level remains a significant technical and psychological support area as selling pressure weighs on market sentiment. A sustained breakdown could trigger additional liquidations, particularly among leveraged traders holding positions below the threshold.

Source: TradingView

Conversely, stronger buying activity could help XRP stabilize above $1 despite elevated derivatives exposure. The divergence between MEXC open interest and broader exchange activity highlights concentrated speculative positioning. Ultimately, XRP’s ability to defend $1 will remain central to its near-term price direction as traders assess derivatives exposure and spot demand.