XRP News Today: XRP Futures Hit Record Volumes as ETF Hopes and Whale Moves Drive Bullish Momentum

XRP’s futures market has experienced record-breaking performance in July, with CME Group reporting unprecedented trading volumes and open interest levels in its XRP futures contracts. The surge in demand has been attributed to growing institutional and retail investor participation, driven by optimism around a potential U.S. ETF approval for XRP. Market observers suggest that the regulatory landscape is evolving in favor of digital assets, with the SEC’s shifting stance and the resolution of ongoing legal challenges fueling investor confidence [1].

The price of XRP also reached a four-month high of $2.97 in July, with further upward momentum observed as the token briefly surged to a new all-time high of $3.65 on July 18, surpassing its 2018 peak [2]. This price action was supported by increased on-chain activity, including significant whale transactions. On July 31, a major on-chain movement of 82,277,388 XRP—valued at approximately $246 million—was recorded from Kraken, which analysts interpreted as a strong bullish signal [3].

The surge in XRP was not limited to spot markets. CME Group’s XRP Micro futures contracts saw a trading volume of $126 million in July, reflecting heightened interest from both institutional and individual investors [4]. Technical indicators also suggest a potential breakout, with XRP retracing to a key support level near $3.00 and showing signs of stabilization in the RSI, which may signal a continuation of the upward trend [5].

Market analysts have also highlighted the token’s growing appeal. Armando Pantoja, a cryptocurrency analyst, noted that XRP could be on the verge of a significant price move, particularly for investors holding 1000+ tokens, as the number of such holders has increased, contributing to a more bullish market sentiment [6]. However, recent volatility has caused short-term corrections, with XRP dropping 19% from its $3.66 high, triggering $39 million in long liquidations and a 26% decline in futures open interest to $8.13 billion [7]. Despite these dips, many investors remain optimistic, positioning for potential ETF approvals and broader adoption of XRP-based products.

The market is closely watching developments regarding the XRP ETF application, with some forecasts suggesting approval could occur by 2025 due to regulatory maturity and the conclusion of key legal cases [8]. If approved, an XRP ETF is expected to significantly enhance market liquidity and attract new institutional participation. For now, the confluence of whale movements, technical indicators, and analyst forecasts continues to support a bullish outlook for XRP as it seeks to test higher levels in the near term.

Source:

[1] CoinGape (https://coingape.com/cme-xrp-futures-hit-highs-in-july-amid-etf-approval-optimism/)

[2] TradingView (https://www.tradingview.com/news/cryptonews:02c5d2da6094b:0-perplexity-ai-predicts-the-price-of-xrp-shiba-inu-and-pepe-by-the-end-of-2025/)

[3] U.Today (https://u.today/246-million-in-xrp-moved-at-once-whats-happening)

[4] CoinCentral (https://coincentral.com/xrp-prediction-could-it-break-5-in-august-and-will-cardano-join-the-rally/)

[6] The Currency Analytics (https://thecurrencyanalytics.com/altcoins/xrp-analyst-hints-at-major-price-surge-as-1000-xrp-holders-lead-market-sentiment-188202)

[7] tradingnews.com (https://www.tradingnews.com/news/ripple-xrp-price-forecast-buyer-exhaustion-3-usd-)

[8] AInvest (https://www.ainvest.com/news/xrp-news-today-xrp-surges-28-social-buzz-whale-moves-2508/)