XRP Open Interest Falls 12.69% as Funding Reaches 10.9%

XRP recorded the steepest 24-hour open-interest decline among five crypto markets in the Nov. 6 snapshot, while its annualized funding rate led the group at 10.9%. At 6:01 a.m. ET on Nov. 6, XRP’s mark price was $1.19 and open interest totaled $396.1 million, down 12.69% over 24 hours. Long accounts made up 75.3%, compared with 24.7% short. Its funding rate was 0.0100% every eight hours. Funding was positive for all five assets, meaning traders with long positions paid those with short positions. Open interest tracks the value of derivatives contracts still outstanding; it declined across all five markets over the 24-hour period. Bitcoin (BTC) had the largest open-interest total, at $7.25 billion, after a 5.94% decline.

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