XRP open interest climbed $125 million over the past week, hitting $2.425 billion, as the token traded near $1.13 — up 1.5% in 48 hours but still shy of the $1.18 resistance level. The move comes alongside a broader uptick in crypto turnover, with CoinGecko measuring a 63.5% daily increase in exchange volume to $1.12 billion.
Futures volume dwarfs spot by 7x
CoinGlass recorded $1.98 billion in futures volume over the latest 24-hour window, compared with just $274 million in spot volume — a ratio of 7.2 to 1. Liquidations totaled $2.53 million during the same period. The lopsided activity suggests traders are piling into leveraged positions rather than buying the token outright on exchanges.
Funding rate stays neutral, open interest climbs
XRP's funding rate sits at 0.0066%, a modest long bias where long holders pay short holders a small premium. That's a neutral reading, not the kind of overheated market that often precedes a flush. Meanwhile, US-traded spot XRP funds took in nearly $6.8 million on July 16, holding close to $1 billion in net assets with cumulative inflows near $1.5 billion. The steady institutional demand provides a floor under the price.
Key levels to watch
The bull case: a daily close above $1.18, combined with turnover near or above $1 billion and funding near neutral, opens the path toward the 50-day exponential moving average at $1.26. The bear case: rejection at $1.14-$1.18, with price falling while open interest contracts. The stress case: a loss of the $1.08-$1.10 zone, triggering long liquidations and sending open interest back toward the July 14 baseline near $2.3 billion. The final defense level is a daily close below $1.00, which would reopen a deeper downside path.
XRP's seven-day advance reached 5.1%, outpacing the 4.6% gain for the global crypto market. But the token still sits about 5.5% below the $1.18 resistance that has capped rallies for weeks. The next test is whether buyers can push through that level on a closing basis — if they do, the $1.26 shelf becomes the immediate target. If they don't, expect a retest of the $1.08-$1.10 support zone.
