XRP Futures Open Interest Zooms to 5-Month High as Traders Seek Bullish Bets
2025-07-08 08:50:42
Main Idea
XRP futures open interest has reached a five-month high, indicating bullish sentiment among traders, while the spot price remains relatively stable.
Key Points
1. Cumulative open interest in XRP perpetual futures briefly rose to 800 million XRP, the highest since January 19.
2. The increase in open interest suggests an influx of money into the market, reflecting demand for bullish exposure.
3. The funding rate for XRP futures has remained positive, occasionally exceeding 10% annualized, indicating strong bullish sentiment.
4. The long-to-short ratio in the Binance-listed XRP/USDT market stood at 1.90, showing more long positions than shorts.
5. XRP's price briefly rose to $2.35, a level last seen in late May, before settling around $2.25.
Description
Futures tied to XRP XRP are flashing positive signals as the payments-focused cryptocurrency looks to build bullish momentum. On Monday, cumulative open interest in XRP perpetual futures listed on major exchanges briefly rose to 800 million XRP, the most since Jan. 19, according to data source Velo. The platform tracks activity in USDT and USD perpetuals listed on Binance, Bybit, OKX and Hyperliquid. Cumulative open interest is currently 743 million XRP, still 33% higher than on June 22, when XR...
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