- XRP futures open interest surged 33 percent since late June, nearing its previous high of $5 billion.
- Strong XRP inflows on Upbit contrast with outflows on other global exchanges, highlighting regional support.
- ProShares’ XRP ETF listing on DTCC sparks anticipation of imminent trading approval and institutional demand.
Open interest in XRP futures has climbed sharply, reaching its highest point since January. According to Coinglass, futures open interest briefly surpassed 800 million XRP before stabilizing at 743 million. This marks a 33 percent increase since June 22. The total value of XRP open interest now approaches $5 billion, signaling a notable rise in participation and confidence among derivatives traders.
Despite the surge in futures trading, XRP’s spot price has remained relatively steady. Analysts observe that most of the support for XRP prices is currently coming from South Korea. Upbit, South Korea’s leading exchange, has experienced a substantial inflow of XRP, while other global exchanges have reported a collective outflow of nearly $8.82 million worth of the asset.
Market Spread Mirrors Previous Rally Conditions
Current market conditions show a spread of 6.14%, which is comparable to levels observed just before XRP’s significant rally in November 2024. Market participants are watching this closely, as similar conditions last year preceded a strong upward move. The resemblance is drawing attention to the potential for another rally if momentum continues to build.
Anticipation surrounding the approval of a dedicated XRP ETF by ProShares is growing. The fund was recently listed on the Depository Trust & Clearing Corporation (DTCC) platform, a move often seen as a preparatory step before formal trading begins. While the U.S. Securities and Exchange Commission has not yet issued approval, similar filings in the past for other cryptocurrencies often preceded eventual green lights.
New Multi-Asset Crypto Fund Includes XRP Allocation
A separate development from Truth Social, the platform owned by Donald Trump, adds further interest. A new multi-asset ETF filing includes a 2% allocation to XRP, alongside major holdings in Bitcoin, Ethereum, and Solana. This filing reinforces XRP’s growing relevance in portfolios targeting digital asset exposure.
