XRP futures open interest nears record $8 billion as price breaks $3

Ripple-linked XRP has crossed the $3 mark for the primary time in seven years, pushed by unprecedented curiosity within the derivatives market.

Knowledge from CryptoSlate reveals that the digital asset spiked by 10% within the final 24 hours to as excessive as $3.19 on the time of writing.

The latest worth surge displays a broader wave of renewed curiosity in XRP, which has been gaining momentum since Donald Trump’s election victory in November 2024.

This heightened exercise is obvious within the derivatives market, the place XRP futures have seen unprecedented progress. In accordance with Coinglass knowledge, open curiosity in XRP-related contracts has surged by 300% for the reason that begin of the yr, nearing the $8 billion mark.

Ripple XRP Open Curiosity (Supply: Coinglass)

Bitget has emerged because the main platform for the token’s futures buying and selling, holding 22% of the market share with $1.79 billion in open positions. Different key gamers embody Gate.io ($1.58 billion), Binance ($1.51 billion), Bybit ($1.49 billion), and OKX ($468 million).

XRP Open Interest Positions — XRP Open Curiosity Positions (Supply: Coinglass)

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