XRP Futures Surge to $12.4B; Price Tests $3.22 Support
XRP futures volume spiked 208% to $12.4 billion in 24 hours, surpassing Solana’s $9.6 billion, while open interest rose 15% to $5.9 billion. The positive funding rate signals heavy long bias in XRP futures, elevating liquidation risk if prices reverse. Korean retail investors fueled demand, acquiring over 10 million XRP tokens within minutes after Ripple lawsuit updates. Technically, XRP is testing critical support near $3.22—the .382 Fibonacci retracement and a key backtest zone. Holding this level is vital to sustain the bullish trend; a breakdown could trigger further downside, while a bounce could drive a retest of highs around $3.38. XRP trades around $3.30, down slightly over 24 hours but up over 10% weekly. Traders will monitor XRP futures positioning, funding rates, and regional retail activity as these factors converge at this make-or-break juncture.
Bullish
The sharp rise in XRP futures volume and open interest reflects strong bullish positioning, reinforced by a positive funding rate and rapid retail inflows from South Korea. Similar past surges in futures activity have led to sustained uptrends when key support levels held. With XRP testing the critical $3.22 zone, holding above it could trigger further upside through short squeezes and renewed buying. Although liquidation risk exists if prices slip, the overall dynamics—heavy long bias, concentrated retail demand, and technical support—skew the outlook bullish in both the short and medium term.