XRP Futures Surge as Ripple Ends SEC Battle

XRP futures have seen a dramatic uptick over the past 24 hours, following the conclusion of Ripple’s prolonged legal dispute with the U.S. Securities and Exchange Commission (SEC). This development has fueled investor confidence, resulting in increased trading volumes and heightened market activity around XRP.

The bullish momentum began after Ripple and the SEC officially moved to dismiss their long-standing legal case. This landmark resolution sent XRP soaring by more than 11%, climbing from $2.99 to a high of $3.38 before stabilizing at around $3.31.

Adding to the excitement, analytics platform Glassnode reported a significant increase in XRP futures activity. The 24-hour trading volume skyrocketed by 208%, reaching $12.48 billion, marking the most substantial growth among major cryptocurrencies during the period. While Bitcoin and Ethereum still led in overall volume—$50.6 billion and $76.7 billion respectively—XRP outpaced them in momentum and percentage increase, surpassing Solana’s $9.6 billion and far exceeding Dogecoin’s $4.9 billion, which had a 110% volume bump.

Additional insights from Coinglass confirmed this trend, although with slightly different metrics. According to their data, XRP’s derivatives volume jumped by 161% to hit $18.44 billion. Moreover, options trading also saw a significant increase, with volumes rising 92.6% to $1.97 billion. This surge indicates growing leveraged interest and strong sentiment among market participants betting on XRP’s continued upward movement.

Another key metric experiencing growth is open interest (OI), which measures the total value of active futures contracts that haven’t been settled. As prices and trading activity surged, XRP’s OI rose by 15% to reach $5.9 billion, accompanied by a modest funding rate of 0.01%. This rate implies a predominance of long positions, pointing to traders’ expectations of further gains. However, such concentration of long bets raises the possibility of liquidation risks should the market retrace.

This concern was echoed by on-chain analyst JA Maartunn, who shared via social media that XRP’s OI increased by 22% in just one day. Coinglass data supported this, showing a parallel rise of 17%, bringing total OI to $8.94 billion. The latest figures reflect a renewed surge in market sentiment and positioning among derivatives traders.

To provide context, XRP experienced a historic OI peak of $11.2 billion on July 18, coinciding with a multi-year price high of $3.66. However, as July drew to a close, OI plummeted and XRP’s price fell over 37% to $2.30 by August 3, demonstrating how quickly sentiment and leveraged positioning can reverse in the digital asset space.

Now, with the legal uncertainties behind it, XRP appears poised for renewed bullish action. Many analysts have pointed to the potential for XRP to reach even loftier levels, with some predicting a rise to $10 before year-end. More optimistic forecasts even suggest a scenario where XRP could rally to $30 during this ongoing bull market cycle.

Related: XRP Price: $12M Max Pain for Bears

At present, XRP is trading at $3.31—just below its recent peak of $3.38—as traders wait to see whether the momentum can carry through. With increased futures activity, rising open interest, and a drastically improved regulatory outlook, the stage is set for XRP to take a more dominant role in the crypto market’s next growth phase.