XRP Open Interest Nears $3B As CEO Sees $10B ETF | Crypto News
According to market reviews, open futures positions on XRP have grown sharply this month, even as the token struggles to push past the $3 mark.
CryptoQuant data reveals open curiosity close to $2.92 billion, while Coinglass reviews a a lot larger $8.94 billion determine, reflecting wider market coverage that consists of venues such as the CME.
Open Interest Climbs Despite Price Hurdles
Reports have disclosed that XRP’s open curiosity rose from $2.34 billion on September 25 to roughly $2.92 billion as of Monday.
That increase comes at the same time the token moved from a low of $2.74 to about $2.99, practically 10%. Yet trading exercise has not saved tempo. Volume fell by 10% over 24 hours to $5.76 billion, which suggests fewer spot trades are backing the surge in futures bets.
Different data suppliers inform different components of the story. CryptoQuant pulls figures from major crypto exchanges and reveals OI close to $2.92 billion. Based on broader coverage, Coinglass locations the quantity at $8.94 billion. The hole is basically explained by the vary of exchanges counted.
Some venues that deal with large futures flows, including margin and institutional platforms, are captured by one service and not the other. That issues because the whole image of positions across markets can change how a price transfer performs out.
Speculators Build Positions While Volume Eases
Traders seem to be building more futures positions even while outright trading slows. Margin-based bets have grown. That makes the market more delicate to price swings.
When open curiosity will increase into a firm resistance stage — right here, the psychological and technical barrier around $3 — a failed breakout can shortly set off pressured exits and sharp strikes in either direction. Put merely: more open bets without matching spot quantity raises the percentages of sudden volatility.
ETF Hopes Add A Different Layer
Institutional optimism is also in the combo. In an interview with Paul Barron, Canary Capital CEO Steven McClurg raised his initial estimate for potential XRP ETF inflows from $5 billion to as a lot as $10 billion.
He recommended ETF demand might attain $2–3 billion on day one under favorable market circumstances. Those projections are drawn from past ETF launches and the large allocation some institutional consumers confirmed for early Bitcoin merchandise.
Reports have also highlighted ongoing talks between the SEC and the CFTC about crypto oversight, a development that might have an effect on ETF approvals and market access.
SEC commissioner Paul Atkins has been urgent for what he calls an “innovation exemption” to velocity sure approvals. Until clearer guidelines are in place, big institutional strikes stay potential but not assured.
Featured image from Vecteezy, chart from TradingView
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