XRP Surges 10% as Open Interest Hits $5.4B Milestone

XRP has taken center stage in the crypto sector, gaining significant traction with a remarkable 10% rally, setting it apart from the broader market. This strong uptrend comes on the heels of pivotal legal and institutional developments that are breathing fresh optimism into Ripple’s native token.

The digital asset’s recent price swing pushed XRP to $2.59—its highest level since March 2025. The surge prompted over $20 million in liquidations across futures markets, highlighting the intensity of trader speculation during this abrupt rally. According to CryptoSlate, this movement positions XRP as one of the top performers in an otherwise cautious market climate.

One of the critical indicators underpinning this momentum is open interest in XRP futures. Recent data from CoinGlass reveals that open interest skyrocketed to almost $8 billion earlier in 2025. Though it dipped to $3.6 billion during the April market correction, it has since rebounded to $5.4 billion, signaling a strong resurgence in trader engagement.

Open interest, viewed as a gauge of capital commitment in the derivatives market, often reflects traders’ conviction. The recent spike, therefore, highlights a broad wave of optimism toward XRP’s future performance. Accompanying this trend is more than a 100% jump in trading volume, with the metric exceeding $15.2 billion—a robust sign of heightened investor activity around Ripple’s token.

Several developments have converged to spark this bullish sentiment. Last week, Ripple finalized a significant settlement with the U.S. Securities and Exchange Commission (SEC), effectively concluding a years-long legal battle. As part of the agreement, Ripple will pay $50 million in penalties while reclaiming $75 million previously held in escrow. This regulatory breakthrough removed a major roadblock for the firm, although some, like SEC Commissioner Caroline Crenshaw, have expressed concerns over its wider implications for crypto compliance.

Beyond legal relief, XRP is now making strides in the institutional adoption space. Notably, Ripple partnered with Wellgistics Health, a healthcare logistics company planning to integrate XRP for payments across 6,000 U.S. pharmacies through a $50 million deal. Such adoption highlights the real-world use cases Ripple has long advocated for its token, positioning XRP as a viable settlement and treasury asset.

Institutional excitement is also being fueled by the possibility of a U.S.-based XRP exchange-traded fund (ETF). According to Polymarket sentiment data, there is a 78% probability of an XRP ETF receiving approval this year—further adding to the market’s confidence.

At the time of writing (as of May 12, 2025, 6:52 PM UTC), XRP is the third-largest cryptocurrency by market capitalization, valued at $151.6 billion. Its daily trading volume stands at over $9.07 billion, and it has appreciated 9.52% in the past 24 hours. For those tracking macro metrics, the entire crypto market is worth $3.31 trillion with $166 billion in 24-hour trading volume and Bitcoin currently dominating 61.56% of the total capitalization. Learn more about XRP.

Related: Expert Advice: Sell XRP If You’re Confused

Overall, XRP’s bullish reversal is not just a product of market speculation but a reflection of real-world advances in legal clarity, enterprise utility, and institutional validation. As crypto markets gradually move toward regulatory maturity and adoption, Ripple’s ecosystem might finally be stepping into a new era of legitimacy and growth.