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XRP open interest tops $2.4 billion as traders rebuild leverage
XRP is about 5.5% below $1.18, a level seen as the trigger for a move toward $1.26 after derivatives exposure and spot turnover both rose sharply.
XRP open interest is above $2.4 billion, roughly $125 million higher over the last week, as traders increased derivatives positions beneath the token’s next key price barrier, according to CryptoSlate.
XRP was trading near $1.13, up 1.5% over the past 48 hours, while CoinGlass data showed $1.98 billion in futures volume and $274 million in spot volume in the latest 24-hour window. The outlet also cited CoinGecko’s exchange turnover at $1.12 billion, a 63.5% daily increase, as XRP traded between $1.08 and $1.12.
CryptoSlate said a daily close above $1.18 is linked to strengthening price action toward the 50-day exponential moving average and a $1.26 level, based on a recent technical assessment. The same report noted liquidations totaled $2.53 million and that futures volume came in at 7.2 times spot volume, which could increase the impact of the next directional move once XRP breaks out.
The outlet further pointed to funding at 0.0066% in a same-day snapshot, implying a modest long bias because long holders pay short holders. It also cited US-traded spot XRP funds taking in nearly $6.8 million on July 16, with products holding close to $1 billion in net assets and cumulative inflows near $1.5 billion.
Latest closeXRP $1.144 ▲2.9%