XRP Open Interest Skyrockets to January ATH Levels—Is a $3 Price Surge Next?
XRP's open interest just blasted past January's all-time high levels—fueling speculation of a major price breakout. Traders are now eyeing the $3 threshold like hawks circling prey.
Will history repeat itself?
The last time open interest hit these levels, XRP saw explosive moves. But this time, the market's got more leverage, more hype, and—let's be honest—more degenerate gamblers throwing margin at the charts.
Key question: Can XRP defy the usual 'buy the rumor, sell the news' cycle that plagues crypto pumps? Or will this just be another 'number go up' illusion before the inevitable correction?
One thing's certain: The derivatives market's betting big. Whether that translates to actual price action—or just another opportunity for whales to dump on retail—remains to be seen. After all, in crypto, the house always wins... until it doesn't.
XRP Open Interest Hits $8 Billion Levels
After a long consolidation that spanned years, the XRP open interest had begun to surge back in November 2024, and this continued into 2025. By January 2025, the open interest surged above the $8 billion level for the first time in history to set new all-time highs. While the xrp price did not hit new all-time highs at this time, it also cleared the $3.2 level as it followed the trajectory of the open interest.
Following the drive to new peaks earlier in the year, the XRP open interest fell once again, trending below the $5 billion mark for a few months. This saw the price enter into another consolidation that has now been broken in the month of July.
According to data from the Coinglass website, the open interest is sitting at approximately $8 billion, less than $400 million shy of the $8.33 billion that was recorded back on January 18. At the same time, the XRP price has also rallied, stopping short of $3 as bulls look to turn this resistance level into support in the coming weeks.
If the open interest does continue to rise, then the XRP price is expected to keep going. It is currently only 23% below its all-time high of $3.84 recorded back in 2017, so a repeat of January’s price push could put the altcoin at new all-time highs.
Volumes Show Next Steps
Another bullish development for the XRP price has been the rise in the trading volume. Coinglass data shows that the daily trading volume spiked by 200% to touch $35 billion on July 12, and while there has been a slowdown since then, the daily trading volume remains high at an average of $16 billion over the last few days.
There has also been dominance in the market from South Korean crypto exchange Upbit, which has accelerated to command the second-highest volume for XRP, second only to Binance. Upbit’s volume for the altcoin over the last seven days has risen above $3.8 billion, to beat out Coinbase and Bybit.
Of the top 5 exchanges leading in terms of volumes, Upbit is the only crypto exchange that has seen positive net flows of $131.4 million. Meanwhile, the likes of Binance, Coinbase, OKX, and Bybit have seen negative net flows during this time, signaling that there is more buying going on on Upbit.
