XRP Overtakes HYPE in Open Interest to Hit $2.60B amid Renewed Institutional Interest

XRP recorded a sharp surge in open interest in the last few days, surpassing Hyperliquid’s HYPE token. The recent capital inflow into XRP from whales, spot ETFs, and derivatives traders has also kept prices stable. This indicates growing signs of institutional engagement in the XRP ecosystem.

XRP Futures Open Interest Surpasses HYPE

According to CoinGlass data, XRP perpetual and futures open interest climbed significantly, reaching $2.60 billion as of July 20. A rise in open interest signals derivatives traders’ growing conviction and capital flow in XRP.

Derivatives market data showed massive buying in past 24 hours. The total XRP futures open interest jumped more than 10% to $2.60 billion. Futures OI across crypto exchanges climbed in the past 4 hours.

The crypto asset has surpassed HYPE to become the fourth largest in terms of total open interest. HYPE futures open interest dropped more than 2.50% to $2.57 billion in past 24 hours.

HYPE, the native token of the Hyperliquid, previously overtaken XRP in futures open interest earlier. HYPE open interest skyrocketed above $3 billion after Kalshi launched CFTC-regulated HYPE perpetuals.

Traders looking to take advantage of these volatile open interest swings can compare the best crypto futures trading platforms to evaluate margin rules, funding rates, and available leverage.

Rising Demand Among Institutions Fuels Momentum

The major catalysts behind the recent growing institutional appetite for XRP include Ripple’s partnerships with many tradfi and crypto native firms, inflows into spot ETFs, and demand from derivatives amid low funding rates.

Jack McDonald, SVP Stablecoins at Ripple, told Grayscale about the company Ripple’s institutional strategy, and RWA adoption of RLUSD and XRP. Ripple has partnered with Ondo Finance, Mastercard, JPMorgan, and OKX to build the future of finance.

Ripple is partnering with @Mastercard, @jpmorgan, @okx, and @OndoFinance to build the future of finance for both traditional and digital assets.@_JackMcDonald_ joins Grayscale to discuss @Ripple's institutional strategy, real-world adoption of $RLUSD and $XRP, and what's next. pic.twitter.com/e98EgpiiJk

— Grayscale (@Grayscale) July 19, 2026

Moreover, spot ETFs recorded renewed inflows amid capital inflows into the crypto market. Cumulative net inflows and AUM have reached $1.49 billion and nearly $1 billion. Whereas HYPE ETF total assets under management reached $301.34 million, with significant outflows last week.

As CoinGape reported earlier, whales accumulated 70 million XRP in a week as US inflation cooled. The massive whale accumulation sent XRP price higher, alongside a notable surge in futures open interest.