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Despite weak prices, XRP futures remain bullish

2026-09-11 03:33:21
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TLDR: Binance giant whale maintains a bullish trend in XRP futures

Bybit data shows that traders 'positions are divided

Although the XRP price fell slightly by 1.55% to US$1.38, the overall XRP futures market still showed a bullish trend. The giant whale account on Binance showed an extremely bullish long-short ratio of 2.74.

OKX recorded the strongest bullish consistency, including Smart Money and whale positions. However, smart money remains extremely bearish on Binance and Bybit, causing market sentiment to diverge.

Long positions accounted for approximately 96% of the total liquidation of US$7.91 million in 24 hours.

Binance Giant Whale maintains a bullish tendency for XRP futures

On the Binance Platform, the long-short ratio of the Giant Whale account is 2.74, which is in the "extremely bullish" category. Retail traders also prefer long positions, with a long-short ratio of 2.47, while giant whale positions read 1.96. Smart Money took the opposite stance on Binance, showing up as "extremely bearish", creating a clear divide between experienced traders and other market participants holding bullish positions.

OKX shows broader bullish positioning

OKX shows broader bullish positioning among most groups. Retail traders had a long-short ratio of 2.55, while the giant whale position ratio soared to 30.86, putting both groups in the "extremely bullish" category. Smart money on OKX also remains extremely bullish. The giant whale account takes a more moderate stance, with a long-short ratio of 1.13, classifying this group as "neutral".

Bybit data reveals divergence of trader positions

Bybit also recorded strong long positioning among retail traders and giant whale accounts. Both groups have a long-short ratio of 3.39, which is in the "extremely bullish" category. However, the giant whale position ratio is 0.98, showing "neutral". Smart money remains extremely bearish, consistent with the cautious stance seen in the currency.

Leveraged buyers face liquidation pressure

Despite bullish positioning, XRP futures traders have faced heavy liquidation pressure during the recent decline. The total liquidation amount within 24 hours reached US$7.91 million, of which long positions accounted for US$7.62 million, accounting for approximately 96% of the total. The 12-hour data showed a stronger imbalance: forced liquidations totaled $4.97 million, of which long liquidations amounted to $4.95 million, accounting for about 99% of the total.

In terms of trading volume, short sellers have a slight lead. Short volume was US$1.92 billion, accounting for 52.78% of total activity, while long volume was US$1.72 billion, accounting for 47.22%. This comparison suggests that traders are willing to maintain bullish exposure despite weaker spot prices. At the same time, clearing data shows that leveraged buyers will remain in a fragile position if selling pressure on major derivatives exchanges continues in subsequent transactions.

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