XRP surges near $1.40 as Binance open interest spikes
XRP is rallying toward a 6-month high, trading around $1.39 and up 38.9% over seven days. The key driver is a derivatives positioning shift: Binance open interest jumps to 263M while CryptoQuant notes a divergence between rising open interest and deeply negative CVD (perps CVD about -$514M; spot CVD about -$194.8M). This setup can precede larger swings as traders rebalance.
On-chain/market activity is also strengthening. After XRP broke a two-week range, whales reportedly accumulated about 190M XRP in a day. Trading volume has climbed above $13.5B, and activity on the XRP Ledger is increasing.
A new adoption catalyst adds to the bullish mix: XRP is now available in the BitPay Wallet self-custody app, enabling users to buy, sell, swap, and spend XRP directly.
Traders will watch whether XRP can decisively reclaim $1.40 and flip it from resistance to support. If it holds, higher resistance levels may come back into focus; if not, the open-interest/CVD divergence raises the risk of sharper pullbacks.
Bullish
This news is bullish because it combines (1) a strong price breakout toward $1.40, (2) a clear derivatives signal from Binance open interest rising to 263M, and (3) confirmed large-holder behavior (whales reportedly adding ~190M XRP). The open-interest build while CVD remains deeply negative suggests positioning is shifting—often seen before accelerated moves when the market reprices risk and liquidity.
In the short term, traders may front-run a retest/hold of $1.40, increasing momentum but also raising the chance of sharp stop-runs if the level fails. Historically, XRP rallies that coincide with rising open interest and whale accumulation tend to extend when support is reclaimed; however, if resistance fails, the same derivatives leverage can quickly turn into volatility and downside liquidations.
Long term, the BitPay Wallet integration improves accessibility and could expand the addressable user base for XRP payments. If adoption persists while on-chain activity grows on the XRP Ledger, it can support the market narrative beyond pure trading flows, making sustained demand more likely.