XRP News Today: XRP Futures Open Interest Hits 6-Month High at $9.68 Billion Amid Bullish Sentiment

XRP perpetual futures open interest has surged to a 6-month high of $9.68 billion, marking a significant milestone for the cryptocurrency. This increase in open interest indicates a surge in leveraged bets, reflecting strong confidence among traders. Historically, rising futures open interest has often triggered price increases, as seen with XRP climbing to a 6-month peak above $3.20. The sustained positive funding rates suggest that "long" traders are actively financing shorts, which shows bullish leverage. On the macro scale, XRP has remained above its 100-hour moving average and Ichimoku cloud, with significant support at $3 and upside potential to $3.4 if momentum holds. The jump to $9.68 billion in open interest signifies not just speculation but profound market conviction, painting a bullish picture for XRP as it has broken above the 20-day moving average.

In parallel, Ripple has made significant strides in the Middle East's digital asset space by partnering with Ctrl Alt, a leading tokenization infrastructure platform. This collaboration aims to provide institutional custody for Dubai's government-backed real estate tokenization initiative. Through this partnership, Ctrl Alt will leverage Ripple's institutional-grade custody technology to securely store tokenized real estate title deeds on the XRP Ledger (XRPL), supporting the landmark real estate tokenization project by the Dubai Land Department (DLD).

Recce Merrick, Ripple’s managing director of Middle East and Africa, described this development as a game-changer, stating that the DLD’s Real Estate Tokenization Project positions Dubai at the heart of the global digital asset industry. This initiative marks the Middle East’s first government-led tokenization of property title deeds on a public blockchain, highlighting the XRP Ledger's strength for real-world financial applications. Matt Ong, CEO and Founder of Ctrl Alt, emphasized that partnering with Ripple provides access to trusted, enterprise-grade technology that meets top security and performance standards. The primary objective is to open up Dubai real estate investment to a global audience, driving greater transparency, efficiency, and accessibility. By tokenizing title deeds on the blockchain, it enables fractional ownership, allowing multiple investors to co-own property and unlocking broader market participation.

The DLD’s choice of the Ripple’s XRP Ledger underscores its growing reputation as a trusted platform for institutional-grade financial applications. This development marks the first time a Middle Eastern government real estate authority has tokenized property title deeds on a public blockchain. The surge in XRP perpetual futures open interest to $9.68 billion reflects a powerful upward price trend, growing institutional and retail leverage, supportive technicals, improved legal outlook, and accelerating volume across venues. These elements combine to create the possibility of new highs with XRP’s present price sitting at $3.27, a stone’s throw away from the all-time high (ATH) price of $3.40.