XRP Surpasses Hyperliquid, Zcash in Futures Open Interest with $9B Volume on CME & Binance

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XRP Surpasses Hyperliquid, Zcash in Futures Open Interest with $9B Volume on CME & Binance

Highlights

XRP futures open interest overtakes Hyperliquid and Zcash to hit $4.1 billion.
XRP futures OI recorded $9 billion in volume on CME and Binance.
XRP price hit a high of $1.62 amid ETF inflows, bullish analysis, and

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XRP futures open interest has overtaken Hyperliquid and Zcash, indicating massive interest from traders. Massive buying on derivatives exchanges CME and Binance drove XRP price beyond $1.62 today amid spot ETF inflows, broader market recovery, and bullish price predictions.

XRP Tops Hyperliquid and Zcash Futures Open Interest

XRP futures open interest climbed $4.10 billion over the past 24 hours, hitting a 9-month high. This positioned the Ripple-linked coin to surpass Hyperliquid and Zcash in futures open interest, according to Coinglass data.

Notably, the massive demand for XRP came from derivatives traders than from spot traders. In the last 24 hours, futures volume across derivatives exchanges was $9.4 billion against $2.2 billion in spot volume, causing price to surge 7%.

CME remained a core venue for futures trading after it surpassed Binance recently, as CoinGape reported. XRP futures OI on CME skyrocketed more than 16% in 24 hours and 14% in last 4 hours to $756 million, at the time of writing.

CME Group data showed that XRP futures open interest recorded a daily volume of 10,559 and open interest of 9,184 on Tuesday.

XRP Futures Daily Volume and Open Interest. Source: CME Group

On Binance, XRP futures open interest also jumped 10% over last 24 hours to almost $700 million. Binance saw trading volume above $2.4 billion, making almost $9 billion in futures volume with CME. This indicates massive interest from institutional investors.

The ranking shift is notable because Hyperliquid and Zcash are recording continuous buying. HYPE’s own perpetuals still command large notional size on Hyperliquid, and ZEC open interest expanded sharply during its recent rally.

XRP’s latest move reflects renewed leverage after deleveraging in mid-September around the CLARITY Act vote, helping with a rebound in price from $1.30 to a high of $1.62 today.

Reasons Why Price Is Going Up Today

XRP saw more than $17 billion in total liquidations over the past 24 hours, after Bitcoin and Ethereum. Traders closed $9.50 million in short positions, with the largest liquidation of XRPUSDT worth $5.09 million on the Binance crypto exchange.

The broader crypto market recovery and Trump confirming a good meeting with Iran during the UN General Assembly fueled upside momentum in Bitcoin, ETH, XRP and other altcoins.

Moreover, spot XRP ETFs recorded renewed inflows amid capital inflows into the crypto market. Cumulative net inflows and AUM have both reached $1.73 billion. XRP ETFs saw $20.02 million in inflows on Tuesday, with Bitwise recording $19.16 million in inflows.

XRP is also rising due to bullish price predictions by notable experts. Peter Brandt predicted XRP price can rally to $5.40. His chart indicates XRP could break above the psychological $5 level by next year. The network activity is also up, with XRPL transactions up in line with growing open interest.

To track these market-moving derivatives metrics and open interest changes in real time, traders should utilize the best crypto research tools.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.