Investors’ caution is increasing due to ongoing geopolitical turmoil. The XRP currency market is also showing notable weakness, as traders appear to be pulling back on buying this digital currency.

In fact, new data indicates that the XRP derivatives market may have taken a major hit.

Weak speculative demand
Glassnode reported that after the debt reduction event in early October 2025, the number of open perpetual contracts for XRP fell sharply from 7 billion to 2 billion tokens—a decline of 71%.
The analytics firm noted the continued drop in position size, with open trading volume falling another 25% to reach 1.5 billion XRP. This trend suggests that speculative activity in the derivatives markets may keep declining.

In a separate update last week, Glassnode observed that more than half of the XRP supply remains below its true value. Investors who accumulated more than two dollars, and have been experiencing daily losses ranging from 20 million to 110 million dollars since November 2025, are continuing to face selling pressure.