- XRP open interest surged to 1.8 billion tokens ($4.09B), marking a 5.21% jump in 24 hours as traders pile into derivatives.
- Binance leads XRP’s open interest share at 18.81%, signaling strong investor confidence and possible setup for a price breakout.
- XRP is trading at $2.25 after a 3.62% daily gain, now just 41% below its all-time high of $3.84, with momentum building fast.
Ripple’s XRP is showing some serious signs of life again. As the broader crypto market turns green, XRP’s open interest has absolutely popped—hitting 1.8 billion XRP on June 3, according to CoinGlass data. That’s roughly $4.09 billion in derivative bets placed in just 24 hours, a 5.21% jump. And yeah, that’s kind of a big deal. It means traders are loading up, expecting movement, maybe even a breakout if the wind blows right.
Open interest basically tracks how much money is tied up in futures or options contracts—so when it jumps like this, it usually means traders are getting confident, maybe even a little greedy. Binance users seem especially bullish, holding the largest chunk of XRP’s OI at 18.81%, with Bybit right behind at 17.01%.
Derivatives Action Hints at Bullish Setup
Rising open interest usually doesn’t come out of nowhere. In XRP’s case, it’s syncing up with a broader market recovery, led by Bitcoin’s latest push and gains across the board. These kinds of OI spikes have historically lined up with price rallies for XRP, and right now, it feels like we might be entering that zone again.
Derivatives traders returning to XRP is a decent sign that more capital is entering the network—whether that’s hedging or speculation, it adds fuel to the fire. Price-wise, XRP jumped 3.62% in the last 24 hours, climbing past $2.20 after briefly dipping as low as $2.09 last week. That sudden turnaround’s making people perk up a little.
XRP Closes in on ATH, But Still Has Room to Run
At press time, XRP is trading around $2.25. That’s still about 41% off its all-time high of $3.84 from back in January 2018—but the momentum’s picking up. Weekly performance is still slightly down, with a 2.83% drop, but that could shift quickly if the current bullish sentiment holds.
If the current setup keeps building—open interest rising, broader market lifting, and demand pushing prices higher—it’s not wild to imagine XRP testing its previous ATH again. That said, crypto’s never been predictable, and things can flip in a heartbeat. Still, it’s one of the more bullish setups XRP’s seen in a while.
