TL;DR
- XRP futures open interest surged 41.6% in a week, climbing from $2.42 billion to $3.42 billion alongside a steady price increase.
- Since Monday, its market cap has added $7 billion, driven by positive expectations following a settlement letter filed by the SEC.
- Although rising exchange reserves and whale activity suggest potential selling pressure, the bullish trend remains solid with no signs of reversal.
XRP futures have seen a sharp rise in open interest over the past few days. In just one week, open interest jumped from $2.42 billion to $3.42 billion — a 41.6% increase. This growth aligned with a sustained price rally, as the token climbed from $2.14 to $2.55, consolidating a bullish trend that has held firm.
The momentum wasn’t limited to derivatives volumes. Since the start of the week, XRP added $7 billion to its market capitalization, setting itself apart from the broader crypto market, which has faced a widespread pullback. This performance is largely driven by optimism surrounding the ongoing legal case between Ripple Labs and the SEC. On May 8, the regulator submitted a settlement letter, a move the market interpreted as favorable for Ripple.
Since the legal tide began to turn, XRP has added nearly $100 billion to its market cap — a clear sign of growing institutional interest in the asset. This optimistic climate pushed derivatives to reach their highest open interest levels in almost a month, according to Glassnode data.
XRP Keeps Climbing with No Signs of Slowing Down
Still, not every market signal points upward. XRP reserves on exchanges have reached their highest level in four weeks, a metric that often anticipates increased selling pressure. Additionally, some whales have moved large volumes to centralized exchanges — a move that could trigger significant sell-offs if market conditions tighten.
Despite these warning signs, Ripple’s token hasn’t shown any signs of weakening. If the current momentum continues or manages to establish higher support levels, its upward trajectory could hold. The market is also closely watching the SEC’s pending decision on spot XRP ETFs, expected in June, which could serve as another catalyst to fuel the rally
