XRP futures trading activity increased significantly, with volume across Binance, Bybit, OKX, and Bitget reaching $11.37 billion on August 22. This figure marked the highest trading volume recorded since early February.
The rise in futures volume coincided with an increase in large XRP withdrawals from exchanges. Transfers exceeding 1 million XRP grew from 54 million to 231 million tokens between August 19 and August 21, representing a 4.3-fold increase over a 48-hour period. Both surges occurred during XRP's recent market rebound.
Binance led the futures activity with $5.63 billion in volume, followed by Bybit at $2.35 billion, OKX at $2.04 billion, and Bitget at $1.35 billion. Additionally, Binance's estimated XRP leverage ratio rose to its highest level in over seven months, indicating that traders were increasing their market exposure.
In the spot market, total net assets for Spot XRP exchange-traded funds reached $1.44 billion, accompanied by daily inflows of $13.82 million. On the charts, XRP recently reached the $1.50 level after crossing $1 earlier in the month. The Relative Strength Index supported the market's pace while noting that the asset may be overbought, and the Moving Average Convergence Divergence line stood at 0.1039, above the signal line reading of 0.0507.
With XRP prices consolidating near recent highs, market participants are monitoring the $1.50 resistance zone and watching for potential pullbacks.
