XRP’s Open Interest Soars: A Tale of Bulls and Billions 📈💰

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It is a truth universally acknowledged, that a cryptocurrency in possession of a good fortune, must be in want of a price hike. And so it is with XRP, which has seen its open interest explode by more than half in the month of July, as the price moves to turn $3 into a support level that would make a mattress proud. Not only has the growth in July been exponential, but it has also sent the open interest barreling toward the all-time high levels that were set back in January 2025. Given that the price climbed rapidly with the open interest early this year, it is possible that this is only the start for the XRP price, and the uptrend could continue, much to the delight of bulls and the chagrin of bears. 🐂🐻

XRP Open Interest Hits $8 Billion Levels

After a long consolidation that spanned years, the XRP open interest had begun to surge back in November 2024, and this continued into 2025. By January 2025, the open interest surged above the $8 billion level for the first time in history to set new all-time highs. While the XRP price did not hit new all-time highs at this time, it also cleared the $3.2 level as it followed the trajectory of the open interest, much like a well-trained puppy following its master. 🐶

Following the drive to new peaks earlier in the year, the XRP open interest fell once again, trending below the $5 billion mark for a few months. This saw the price enter into another consolidation that has now been broken in the month of July, much to the relief of traders who had been twiddling their thumbs and muttering darkly about market forces. 🤷‍♂️

According to data from the Coinglass website, the open interest is sitting at approximately $8 billion, less than $400 million shy of the $8.33 billion that was recorded back on January 18. At the same time, the XRP price has also rallied, stopping short of $3 as bulls look to turn this resistance level into support in the coming weeks, a task that would make a magician proud. 🎩✨

If the open interest does continue to rise, then the XRP price is expected to keep going. It is currently only 23% below its all-time high of $3.84 recorded back in 2017, so a repeat of January’s price push could put the altcoin at new all-time highs, a prospect that has traders rubbing their hands in glee. 🤚🎉

Volumes Show Next Steps

Another bullish development for the XRP price has been the rise in the trading volume. Coinglass data shows that the daily trading volume spiked by 200% to touch $35 billion on July 12, and while there has been a slowdown since then, the daily trading volume remains high at an average of $16 billion over the last few days, a figure that would make a banker’s heart skip a beat. 💓💰

There has also been dominance in the market from South Korean crypto exchange Upbit, which has accelerated to command the second-highest volume for XRP, second only to Binance. Upbit’s volume for the altcoin over the last seven days has risen above $3.8 billion, to beat out Coinbase and Bybit, a feat that would make a competitive eater proud. 🍔🏆

Of the top 5 exchanges leading in terms of volumes, Upbit is the only crypto exchange that has seen positive net flows of $131.4 million. Meanwhile, the likes of Binance, Coinbase, OKX, and Bybit have seen negative net flows during this time, signaling that there is more buying going on on Upbit, a situation that has traders on other exchanges feeling a bit like the second fiddle at a concert. 🎼🎶

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2025-07-16 15:25