XRP open interest nears 1-month high

Summary ⚈ XRP open interest rose 28% since April 15, nearing a 1-month high at 1.51 billion. ⚈ XRP price surged 10.52% to $2.31, bringing 2025 year-to-date gains to 11.32%. ⚈ New XRP ETFs and upcoming CME options launch contribute to growing speculative sentiment. XRP open interest is nearing a 1-month high, per data retrieved by Finbold from cryptocurrency on-chain and market data analytics platform CryptoQuant . To be more precise, as of April 27, some 1.51 billion derivatives positions were open, marking a roughly 28% increase from a 1-year low of 1.18 billion positions on April 15. XRP open interest 1-month chart. Source: CryptoQuant Coupled with recent increases in XRP ’s price, the rise in open interest suggests a widespread bullish sentiment. At press time, the cryptocurrency was changing hands at a price of $2.31, having marked a 10.52% surge from the $2.09 price point seen on April 15 which has brought year-to-date (YTD) gains up to 11.32%. XRP price year-to-date (YTD) chart. Source: Finbold XRP open interest surge signals rise of speculative positions This latest increase in speculative positions coincides with several tailwinds currently at play. On April 25, the world’s first spot XRP exchange-traded fund (ETF) went live . ProShares will launch XRP futures ETFs on Wednesday, April 30 — while the world’s largest derivatives market, CME Group, will introduce XRP options trading on May 19. While it remains to be seen whether or not XRP can hold levels above $2.31, both token-specific and wider market dynamics currently appear to be favorable for a continued rise. Featured image from Shutterstock The post XRP open interest nears 1-month high appeared first on Finbold .

Source: Finbold