XRP (CRYPTO: XRP) is down to $1.43 in early Wednesday morning trading even as derivatives activity and spot ETF inflows point to sustained trader interest.
Who Leads XRP Futures Trading
CryptoQuant data shows XRP derivatives activity remains elevated, even as trading cooled down from earlier record highs.
The sustained volumes suggest traders continue to actively position around XRP, with higher derivatives liquidity potentially amplifying price moves as long and short exposure builds.
Binance dominated XRP futures activity in September with approximately $32.36 billion in trading volume.
Bybit followed with $12.5 billion, while OKX recorded roughly $11.32 billion. The remaining volume was spread across other exchanges.
Increase in September trading activity also highlights the continued importance of derivatives markets in shaping XRP market dynamics.
ETF Flows Reflect Institutional Demand
U.S. spot XRP ETFs recorded $3.14 million in dailt net inflows on Oct. 6, according to SoSoValue data, adding another source of demand for XRP exposure.
Nonetheless, XRP is down over 15 cents from its last local high above $1.60 set on Sept. 25.
Institutional interest around the broader XRP ecosystem is still growing.
Ripple recently signed global alternative investment manager Brevan Howard as a client of its Ripple Prime business, which will provide prime brokerage, clearing and financing across traditional and digital assets.
The increased trading activity comes as veteran trader Peter Brandt sees a potential path toward $2.16.
Brandt cautioned that XRP still faces substantial supply at higher prices and the technical setup may require further development before a breakout.
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