XRP Gains 6% to Hit Market Leaders List Following Bitcoin’s $111K Recovery

XRP Leads Altcoin Bounce as CME Crypto Futures Hit $30B

Altcoins rebounded sharply on Tuesday after a two-day sell-off, with traders taking advantage of lower prices to re-enter positions. XRP topped the movers, rising 6%, while Solana (SOL) and Dogecoin (DOGE) each gained roughly 4.5%, and Ethereum (ETH) added 5%. XRP’s open interest climbed 4.2%, indicating renewed speculative interest.

The rally coincided with CME Group reporting $30 billion in crypto futures notional open interest. Both SOL and XRP futures surpassed $1 billion, with XRP becoming the fastest contract to reach this milestone in just over three months. Analysts see this as a signal of growing institutional participation and possible future demand for a spot XRP ETF.

The broader market strengthened, with the CoinDesk 20 Index rising 3.6%, while Bitcoin (BTC) reclaimed the $111,000 level after briefly dipping below $109,000. However, blockchain analytics firm Santiment cautioned that elevated optimism over a potential Fed rate cut in September could trigger a market correction. Traders are now eyeing Friday’s Personal Consumption Expenditures (PCE) Price Index for insight into the Fed’s next move.