**XRP Price Hits Six-Month High Amidst Elevated Futures Activity**
On Wednesday, the price of Ripple’s XRP climbed to a six-month peak, reaching around $3.05—a 5.1% increase over the last day. This surge coincided with a significant rise in notional open interest for XRP perpetual futures.
According to CoinGlass data, the total leveraged position value across exchanges surpassed $8.8 billion, marking a new record. This level represents approximately 2.89 billion XRP and significantly exceeded the previous peak of $8.3 billion set in late January.
Market Dynamics & Analyst Perspectives
Open interest dominance was concentrated on centralized platforms Bitget ($1.94 billion) and Binance ($1.48 billion).
Across venues, XRP displayed bullish signals through consistently positive funding rates. These rates indicated traders with long positions voluntarily funding short positions, a sign of prevailing market optimism.
Analysts attribute current activity partly to established retail availability and familiarity with XRP, contrasting with newer niche altcoins.
“When people try to FOMO, they’re ready to pay more interest to leverage long,” Greg Magadini, derivatives director at Amberdata, noted.
Carlos Guzman added, “XRP is widely available, with lots of retail awareness.” Matt Kreiser highlighted XRP Ledger’s unique compliance features potentially aiding adoption, especially with stablecoin legislation progress.
Regulatory Context & Future Outlook
XRP’s performance gains have paralleled other leading cryptocurrencies that were popular during the previous market cycle.
The ongoing resolution of Ripple Labs’ years-long legal battle with the SEC is viewed by analysts as a significant positive catalyst, fueling expectations of regulatory tailwinds.
The Bottom Line
XRP positions itself not just through its own persistent protocol development or merchant adoption initiatives, but also against the backdrop of emerging regulatory relief.
