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XRP Nears Record High of $3.40 as Futures Open Interest Hits $10B
The token has climbed more than 10% over the past 24 hours and 34% over the past seven days.
Updated Jul 17, 2025, 12:58 p.m. Published Jul 17, 2025, 12:56 p.m.
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What to know:
- XRP surged to $3.30, nearing its 2018 all-time high, driven by bullish futures sentiment.
- Futures open interest rose to $9.98 billion, the highest since 2021, with traders aggressively taking long positions.
- Large holders accumulated over 2.2 billion XRP recently amid news of leveraged ETFs launching in the U.S.
XRP extended its breakout rally on Wednesday, briefly touching $3.30 in Asian hours as bullish sentiment surged across futures markets.
The token is now trading less than 4% below its all-time high of $3.40 set in 2018.
Futures open interest jumped to $9.98 billion across major exchanges — up 26% in the past 24 hours — marking the highest level since 2021. Funding rates remain elevated, suggesting that traders are aggressively taking long positions, even as prices overheat on lower timeframes.
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Open interest refers to the number of unsettled futures bets. Rising prices alongside rising interest often signals bullish sentiment and expectations of a further rally.
On-chain data from WhaleTrace shows over 2.2 billion XRP has been accumulated by large holders in the past two weeks.
Some of that activity coincides with news that leveraged ETFs are going live in the U.S., with Grayscale also confirming the inclusion of XRP in its Digital Large Cap Fund.
Per CoinDesk Analytics, traders are now eyeing the $3.50–$3.84 band as the next resistance zone, with technical indicators flashing overbought conditions.
RSI on the 4-hour chart has remained above 80 since Tuesday, typically a sign of short-term exhaustion, but volume-backed breakouts are still holding.
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