XRP futures open interest on CME hit an all-time high of over 6,000 contracts on August 18, signaling strong institutional confidence.
Key Highlights Record Surge: CME XRP futures, launched in May, traded 251,000 contracts ($9.02B notional value), with a daily peak of $235M in July.
Market Buzz: Coinglass reports XRP derivatives volume up 142% to $16.46B, with open interest climbing 8% to $8B, reflecting bullish sentiment.
Price Outlook: Crypto analyst CasiTrades predicts XRP targeting $3.21, with strong momentum and a potential pause at $3.168 before climbing higher.
Why It Matters
The surge in CME futures activity points to growing TradFi interest, likely fueling demand for spot XRP ETFs once available. With no spot ETF yet, futures offer regulated exposure, driving optimism for a price rally. #XRP #CryptoRally #CMEFutures $XRP
