Key facts
- XRP futures open interest hit a nine-month high, surpassing Hyperliquid and Zcash.
- XRP futures volume reached $9.4 billion across CME and Binance in 24 hours.
- XRP price surged past $1.62 amid increased derivatives trading.
- Spot XRP ETFs saw $20.02 million in inflows on Tuesday.
- Peter Brandt predicted XRP could rally to $5.40 by next year.
XRP futures open interest has surged to a nine-month high, surpassing that of Hyperliquid and Zcash, indicating significant trader interest. This surge was driven by massive buying on derivatives exchanges CME and Binance, pushing XRP's price beyond $1.62. The total futures volume across these exchanges reached $9.4 billion in the past 24 hours, significantly outweighing the $2.2 billion in spot volume.
XRP's open interest on CME increased by over 16% in 24 hours to $756 million, while Binance saw a 10% jump to nearly $700 million. This renewed activity follows a period of deleveraging in mid-September. The broader cryptocurrency market recovery, coupled with positive price predictions and inflows into spot XRP ETFs, has fueled this upward momentum.
Spot XRP ETFs recorded $20.02 million in inflows on Tuesday, contributing to cumulative net inflows of $1.73 billion. Despite the bullish sentiment, there were over $17 billion in total liquidations in the past 24 hours, with traders closing $9.50 million in short positions.