XRP $1.18 breakout fuels $300M rise in leveraged bets

Open interest in XRP futures climbed roughly $300 million to about $2.6 billion as traders rebuilt derivatives exposure beneath the token’s July high near $1.18. XRP was trading around $1.12–$1.13, about 5.5% below the $1.18 level.

In the most recent 24-hour window, futures volume reached about $1.98 billion while spot volume on major venues was near $274 million, making futures roughly 7.2 times larger than spot trading. Broader exchange turnover was near $1.12 billion, a daily increase of about 63.5%. Twenty-four-hour liquidations totaled roughly $2.53 million.

Funding rates showed a modest long bias, with longs paying shorts at about 0.0066%. Regulated spot demand returned during the rebound: US-traded spot XRP products recorded inflows of about $6.78 million on July 16. Those products hold close to $1 billion in net assets and have cumulative inflows near $1.5 billion. The $6.78 million inflow represented under 1% of the latest daily exchange turnover.

Market participants identified two basic price scenarios tied to the $1.18 area. If XRP posts a daily close above $1.18 while daily exchange turnover stays near or above $1 billion and funding remains near neutral, open interest could remain elevated and price may move toward the 50-day exponential moving average and a price shelf near $1.26. If price rejects in the $1.14–$1.18 zone and then loses the $1.08–$1.10 area, traders may reduce positions and forced liquidations could follow, sending open interest lower toward mid-July baselines near $2.3 billion. A daily close below $1.00 would reopen a deeper downside path.

The recent activity was futures-heavy, which means any decisive break above or below resistance may be amplified compared with moves driven mainly by spot buying. Spot inflows provide additional support but remain small relative to daily exchange turnover and the size of the derivatives market.