XRP has surged 25% in recent trading, nearing its 2018 peak of $3.84, while open interest for XRP futures contracts reached a record $11 billion. This milestone reflects increasing institutional confidence in the cryptocurrency following regulatory resolutions and technical enhancements to the XRP Ledger.
Notably, large-scale whale transfers – including a $70 million transaction to a major exchange – have failed to disrupt XRP’s upward trajectory. The sustained bullish momentum signals significant accumulation demand from institutional investors despite such high-volume movements.
Major trading platforms dominate the XRP derivatives landscape, with Bitget commanding over 20% of all open positions totaling $2.2 billion. CME Group has similarly seen its XRP futures open interest swell to $630 million, underscoring institutional participation.
Key catalysts include the regulatory clarity achieved through Ripple’s settlement with the SEC and significant technological upgrades to the XRP Ledger. These developments have improved institutional sentiment amid broader cryptocurrency market recovery.
The record futures activity combined with fundamental improvements signals strong continued institutional engagement. Analysts view XRP’s ability to maintain momentum through whale transactions as evidence of robust underlying demand while it challenges historical price levels.