The XRP market is experiencing a surge in investor interest. Open interest in XRP derivatives has climbed to a multi-month high—right as speculation grows about a potential launch of an ETF by ProShares.
🔹 XRP Derivatives Market Beats Expectations
According to data from Coinglass, open interest (OI) in XRP futures contracts briefly surged to 800 million tokens before stabilizing at 743 million, marking a 33% increase from the June 22 low. The total value of open contracts is now approaching $5 billion, signaling strong optimism among traders.
Surprisingly, XRP's spot price has remained stable, despite the rise in derivatives activity. While international exchanges recorded a drop of about $9 million in XRP volume, South Korea’s Upbit exchange saw a significant inflow of capital. At present, Korea appears to be “holding the line” on price, though these regional imbalances may lead to future volatility.
🔹 Technical Signals Echo November 2024 Rally
A market analyst noted that the current market spread (6.14%) is eerily similar to the pattern observed just before the major XRP rally in November 2024. If history repeats itself, the market may be on the verge of another bullish breakout.
🔹 ProShares XRP ETF on the Horizon?
Another boost in market optimism comes from the ETF space. ProShares is reportedly preparing an ETF focused on XRP, which has already been listed on the Depository Trust & Clearing Corporation (DTCC)—a common step before trading begins on U.S. exchanges. While formal approval from the SEC is still pending, similar listings for Bitcoin ETFs have preceded their eventual approval.
This move has reignited speculation that a regulated XRP ETF could be just around the corner, further legitimizing the asset in the eyes of institutional investors.
🔹 Trump-Backed ETF to Include XRP
Adding to the buzz is a new multi-asset crypto ETF application by Truth Social, backed by Donald Trump. The proposed fund would allocate 2% to XRP, alongside 70% to Bitcoin, 15% to Ethereum, and 8% to Solana. This inclusion reflects rising institutional interest in XRP.
With rising open interest, ETF speculation, and strong regional trading activity, XRP could be on the verge of a new growth phase. If the ProShares XRP ETF receives approval, it may mark another historic turning point for the asset.
#xrp , #Ripple , #Altcoin , #etf , #cryptotrading
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