XRP XRP/USD price climbed 5.46% to $2.55 on Tuesday. The upward movement extends its weekly gains to 18%, as reported by CoinMarketCap data. A massive spike in trading activity has been the major factor behind XRP’s price surge.
XRP's trading volume has skyrocketed by nearly 140% in the last 24 hours, and reached a substantial $10.51 billion. Data from Glassnode indicates an increase in XRP futures open interest, which has soared by 41.5% in just seven days to reach $3.42 billion.
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The surge in futures activity often reflects increased speculative interest, and can amplify price movements. "This sharp increase in leverage coincides with a price rally from $2.14 to $2.48, suggesting elevated speculative activity and growing directional conviction," tweeted Glassnode.
Further, on-chain data reveals a potential slowdown in selling pressure from large wallet holders (whales).
The change in whale behavior is considered a significant indicator. According to CryptoQuant, data from Kripto Mevsimi’s 30-day Whale Flow chart shows a rise in net flows and suggests that large holders are reducing their selling activity, and potentially accumulating more XRP.
"After months of relentless whale outflows, XRP's negative flow trend is finally losing steam — and may be on the verge of flipping positive," said Kripto Mevsimi while sharing the report.
The shift in whale activity has likely contributed to the strengthening of XRP’s recent rally and increased the probability of a longer-term recovery. Generally, when whales reduce their token selling, it results in sustained upward movements. Hopefully, it will continue to reflect in the price of XRP as well.
Surging trading volume, positive price action, increased futures open interest, and a potential shift in whale accumulation patterns bat for a bullish trajectory of XRP. More than that, community sentiment surrounding XRP has also turned overwhelmingly positive, with 88% of tracked wallet holders expressing a favorable outlook, according to CoinMarketCap.
This aligns with recent wallet growth and indicates rising interest and participation in the XRP ecosystem in 2025. These converging factors suggest that XRP may be poised for further gains in the short to medium term.
Meanwhile, the Chicago Mercantile Exchange (CME) Group, a major derivatives marketplace, has announced that it will launch its XRP futures contracts on May 19. This development is widely viewed as a significant step forward, which could pave the way for the future approval of XRP ETFs.
As noted by TradingView, when CME introduced Bitcoin futures, it led to a significant price surge for BTC. However, the specific effect of CME’s XRP futures launch on XRP’s price is currently uncertain. While the long-term impact remains to be seen, the factors mentioned above suggest a potentially promising trajectory for XRP in the near future.
The growing anticipation of favorable legal outcomes, and the possibility of an XRP-spot ETF appear to be significant drivers of this sentiment.
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