XRP Futures Open Interest on CME Hits New All-Time High
XRP futures open interest on the CME Group reached a new all-time high of over 6,000 contracts on August 18, reflecting growing institutional demand for XRP futures. Since launching in May, CME XRP futures have traded 251,000 contracts worth $9.02 billion, with July’s one-day volume peaking at $235 million. Concurrently, Coinglass reports XRP derivatives volume surged 142% to $16.46 billion and open interest rose 8% to $8 billion. The record futures open interest suggests strong anticipation for upcoming spot XRP ETFs, supported by recent S-1 amendments. Technical analysis by CasiTrades points to a bullish continuation, targeting $3.21 as the next resistance after a brief consolidation, with XRP trading around $3.02 (+5% in 24h).
Bullish
The surge in XRP futures open interest on the CME to a record high signals strong institutional conviction, often a precursor to significant price moves. Historically, spikes in futures open interest—such as Bitcoin’s CME launch—have coincided with upward price trends. The increase in Coinglass derivatives volume and open interest further underscores growing market participation. Moreover, the pending launch of spot XRP ETFs, backed by recent S-1 amendments, is likely to attract additional capital from traditional finance. Technical analysis also points to a continuation toward the $3.21 resistance, suggesting bullish momentum in both short- and long-term horizons. Therefore, this news is expected to have a bullish impact on XRP’s market prospects.