XRP Derivatives Volume Surges 63% Amid Speculative Trading Frenzy
XRP derivatives trading volume has experienced a significant surge, jumping 63% to $4.52 billion within just 24 hours, as reported by Coinglass. This dramatic increase comes despite a slight 0.3% dip in open interest, indicating a market dominated by short-term speculative trading rather than long-term positions. The divergence between soaring volume and stagnant open interest underscores heightened speculative activity in Ripple’s ecosystem, even as traders exhibit caution. This anomaly suggests a growing yet cautious interest in XRP, potentially driven by recent developments or market sentiment. As of May 6, 2025, the cryptocurrency market continues to watch XRP closely, with traders balancing optimism and risk in a volatile environment.
XRP Derivatives Volume Surges 63% Amid Speculative Trading
XRP derivatives trading volume skyrocketed 62.99% to $4.52 billion within 24 hours, according to Coinglass data. The surge comes alongside a 0.3% dip in open interest—a telltale sign of short-term positioning dominating market activity.
This anomaly highlights growing speculative interest in Ripple’s ecosystem despite apparent caution among traders. The divergence between volume spikes and stagnant open positions suggests heated trading activity without corresponding capital commitment.
XRP Tests Key Support as Bearish Pattern Emerges
XRP faces mounting downward pressure, sliding from $2.17 to $2.11 amid persistent selling activity. The formation of a descending triangle pattern on 4-hour charts signals potential for further declines, with critical support between $2.11-$2.14 now under threat.
Technical indicators reinforce the cautious outlook. RSI approaches oversold territory while MACD maintains a bearish crossover. Should current support levels fail, traders anticipate potential retests of $2.00 and $1.82 price targets.
The cryptocurrency’s intraday recovery attempts proved short-lived. After briefly touching $2.15 during midday trading, sellers quickly regained control, driving prices lower into the close. Market participants now watch for either a breakdown from the current pattern or a decisive reversal signal.
Is XRP Price Gearing Up for a Major Rally?
XRP demonstrates resilience, holding steady despite a marginal 0.3% weekly decline. The token’s consolidation may precede a significant upward move, with bullish higher highs and higher lows forming on lower timeframes.
A symmetrical triangle pattern—identified by analyst Fabio Zuccara—suggests impending volatility. XRP currently trades above its 20-day SMA while testing resistance at the 50-day EMA. A decisive breakout could propel prices toward key technical targets.
Gemini Lists Ripple’s RLUSD Stablecoin Amid $25M Education Donation Push
Gemini becomes the 15th major exchange to list Ripple’s RLUSD stablecoin, marking another milestone in the digital asset’s rapid exchange adoption. The development coincides with Ripple’s $25 million donation initiative targeting U.S. education infrastructure.
RLUSD’s integration extends beyond retail trading, with Ripple actively deploying the stablecoin for cross-border payments and institutional use cases. The stablecoin now enjoys support across platforms including Uphold, Bitstamp, and Revolut, with Gemini’s participation significantly expanding its accessibility.
