🚀 CME XRP Open Interest Hits Record High — Breakout on the Horizon?
XRP’s open interest on CME Group has surged to an all-time high (ATH), signaling growing institutional appetite. This development strengthens the case for potential bullish momentum in XRP’s price.
Record-Breaking CME XRP Futures
According to CME, XRP futures open interest reached nearly 6,000 contracts on August 18, just shy of their three-month anniversary. Since launch in May, CME XRP futures have recorded 251,000 contracts worth $9.02B and $12M in XRP. July saw a record $235M traded in a single day, underscoring sustained demand.
With derivatives activity strongly influencing spot prices, this signals confidence in XRP’s trajectory. Data from Coinglass shows XRP trading volume jumped 142% to $16.46B, while open interest climbed 8% to $8B.
Spot ETF Anticipation
The record futures activity suggests TradFi investors are positioning early for spot XRP ETFs once approved. With no direct spot fund available, futures remain the main route for institutional exposure.
Analyst Outlook
Crypto strategist CasiTrades noted that buyers stepped in as XRP broke out of consolidation, forecasting a move toward $3.21. She emphasized that XRP is unlikely to revisit $2.77, instead facing resistance near $3.21 before potentially pausing at $3.168 and then advancing higher.
📌 Key Takeaway: Rising CME open interest, surging trading volumes, and strong institutional demand point to growing momentum for XRP.