XRP Surges 10% Exceeding Crypto Market Gains as Open Interest Tops $5 Billion

XRP has surged by over 10% in the last day, outpacing the overall cryptocurrency market.

Recent data indicates that the token rose to $2.59, marking its highest value since March.

This spike resulted in liquidations exceeding $20 million across various derivatives platforms.

Increase in XRP’s Open Interest

The rise in XRP’s price is driven by increasing optimism regarding its legal and institutional prospects, reflected in a notable rise in futures market activity.

Recent figures show that open interest in XRP futures reached nearly $8 billion at the start of 2025, which is a 300% rise from pre-election figures in November 2024.

Open interest indicates the total amount of active futures contracts and often serves as a gauge of market confidence. A rise in this metric typically points to heightened trader conviction.

Although this figure dipped to $3.6 billion during the broader market downturn in March and April, it has since bounced back to $5.4 billion, indicating renewed interest from traders in the ongoing crypto rally.

This increase is further supported by a trading volume that has more than doubled, now standing over $15.28 billion.

Factors Behind XRP’s Rise

Several important factors are currently fueling trader confidence in XRP.

Recently, Ripple settled a lengthy legal battle with the US Securities and Exchange Commission (SEC).

As part of the settlement, Ripple will pay $50 million to the SEC, while another $75 million previously held in escrow will be returned to the company. The agreement also lifts a prior injunction.

Although SEC Commissioner Caroline Crenshaw has voiced criticism about the settlement, many view it as a significant victory for Ripple and a step forward in regulatory clarity.

In addition to the legal developments, XRP is gaining substantial institutional interest, with companies like Wellgistics Health adopting it as a treasury asset.

Moreover, speculation has been growing around the possibility of an XRP-based exchange-traded fund (ETF), with recent data indicating a 78% likelihood of approval for such an ETF this year.