Open interest in XRP futures has surged to its highest level since January, reaching a peak of 800 million XRP before settling at 743 million, a 33% rise from the June 22 low, according to data retrieved by Finbold from Coinglass.
This spike in cumulative futures positions signals growing confidence among derivatives traders, even as XRP’s spot price holds steady at around $2.33, up 2.34% in the past 24 hours and 6.27% over the past week.
XRP price analysis
Despite the rise in futures activity, XRP’s price hasn’t followed suit with any explosive gains. Analysts attribute this disconnect to divergent trends across global exchanges. On South Korea’s Upbit, the country’s largest crypto trading platform, XRP inflows remain strong, propping up demand.
Meanwhile, other major international exchanges have witnessed outflows exceeding $8.82 million in XRP, suggesting that the price is largely being supported by localized Korean buying pressure.
Additional on-chain data shows that XRP open interest in USD terms is also climbing, while funding rates remain positive, further validating bullish sentiment among futures traders. However, this regional imbalance in trading flows could create volatility if broader demand doesn’t catch up.
At the same time, XRP’s volume remains elevated, and derivatives data suggests that the market is positioning for a directional move. With open interest rising faster than price, traders should be on alert for a potential breakout or correction, depending on how long the Korean support continues to dominate global trading dynamics.
