XRP Perpetual Futures Open Interest Hits Record $8.8B Amid Market Surge — XRP Rally Incoming?
2025-07-17 10:45:40
Main Idea
XRP's perpetual futures open interest reached a record $8.8 billion amid a market surge, with strong bullish momentum and increased whale activity driving the price to a six-month high.
Key Points
1. XRP's notional open interest in perpetual futures hit a record $8.8 billion, surpassing the previous $8.3 billion record.
2. Major exchanges Bitget and Binance lead leveraged trading in XRP.
3. XRP's price surged to a six-month high near $3.05, with a 5.1% gain in 24 hours and a 420% rally over the past year.
4. Technical indicators like RSI and MACD show strong bullish momentum, though overbought conditions may signal potential short-term pullbacks.
5. Whale activity and positive funding rates across most venues indicate growing market interest in XRP.
Description
XRP’s price surged to a six-month high on Wednesday, fueled by a spike in notional open interest for its perpetual futures contracts. Key Takeaways: XRP’s notional open interest in perpetual futures hit a record $8.8 billion. Major exchanges Bitget and Binance lead leveraged trading. XRP’s price surged to a six-month high near $3.05, fueled by growing whale activity. Notional open interest, the total value of leveraged positions held by traders, climbed to an all-time high of $8.8 billion on Wed...
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