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

January 16, 2025Updated:January 16, 2025No Comments2 Mins Read
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XRP futures open interest nears record  billion as price breaks
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Ripple-linked XRP has crossed the $3 mark for the primary time in seven years, pushed by unprecedented curiosity within the derivatives market.

Information 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 current 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 development. In accordance with Coinglass knowledge, open curiosity in XRP-related contracts has surged by 300% for the reason that begin of the 12 months, nearing the $8 billion mark.

XRP futures open interest nears record  billion as price breaks
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 PositionsXRP Open Interest Positions
XRP Open Curiosity Positions (Supply: Coinglass)

Disclaimer: Our writers’ opinions are solely their very own and don’t mirror the opinion of CryptoSlate. Not one of the data you learn on CryptoSlate must be taken as funding recommendation, nor does CryptoSlate endorse any venture that could be talked about or linked to on this article. Shopping for and buying and selling cryptocurrencies must be thought of a high-risk exercise. Please do your personal due diligence earlier than taking any motion associated to content material inside this text. Lastly, CryptoSlate takes no accountability do you have to lose cash buying and selling cryptocurrencies.



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