Record CME Open Interest in XRP Futures Signals Potential Move Toward $3.70
XRP Futures Hit $1B at CME as Spot Consolidates
XRP futures at CME Group surpassed $1 billion in open interest, marking the fastest crypto contract to reach this milestone in just over three months. Total crypto derivatives at CME now exceed $30 billion, signaling growing institutional activity.
Market Snapshot
- Spot XRP traded between $2.84 and $2.98, with a sharp drop from $2.96 to $2.84 on 217 million tokens, roughly triple the daily average.
- $2.84 emerged as key support, bolstered by institutional flows.
- Regulatory uncertainty in the U.S. remains a headwind, but corporate adoption and pilot remittance programs support market interest.
Technical Highlights
- Support: $2.84 | Resistance: $2.94–$2.95
- RSI climbed to mid-50s; MACD hints at a potential bullish crossover
- Concentrated bids above $3.60 reflect institutional positioning
Traders Are Watching
- Upside target: $3.70 if $2.90–$2.92 support holds
- Downside trigger: $2.80 could accelerate losses
CME’s record open interest underscores institutional conviction in XRP.
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