XRP climbed from approximately $0.99 to $1.38 between August 17 and August 31, while its futures market moved in the opposite direction. Total XRP futures open interest fell by around 16%, declining from 2.77 billion XRP to 2.34 billion XRP during the period.
Despite the broader decline, XRP open interest on CME, a regulated market widely used by professional and institutional investors, increased from 284 million XRP to 387 million XRP. The roughly 36% increase lifted CME’s share of total XRP futures open interest from 10% to 17%, while positions outside CME declined by approximately 21%.
CFTC data also showed a divergence among investor groups. Leveraged funds held a net short position of approximately 116 million XRP, while dealers added around 60 million XRP in net long exposure and asset managers added another 28 million XRP. The figures suggest that while overall leveraged activity declined during XRP’s rally, institutional positioning on regulated markets strengthened.
