XRP Futures outpace Solana – Will $3.28 billion unlock stop the $3.50 charge?

Key Points

1. XRP's 24-hour futures volume surged by 207.74% to $12.4 billion, outpacing other major cryptocurrencies like Dogecoin, Ethereum, Solana, and Toncoin.

2. Open interest for XRP climbed by 15.02% to $5.9 billion, making it the third-highest in 24-hour liquidations excluding stablecoins.

3. High leveraged shorts worth $150 million are at risk of liquidation, with orders placed between $3.27 and $3.37, potentially leading to a short squeeze.

4. On 9 August, $3.28 billion in XRP was unlocked from escrow, split into batches of $1.64 billion, $328 million, and $1.32 billion, which historically has weighed on XRP's price.

5. Despite a 3.8% price drop to $3.1879 on 10 August, institutional activity remains high, with Remittix's $18.5 million bounty aimed at overhauling payment systems.