Futures related to XRP {{XRP}} It is the flashing signal when payment-focused cryptocurrencies are designed to build bullish momentum.
Cumulative open interest in XRP permanent futures listed on major exchanges briefly rose to 800 million XRP on Monday, the most since January 19, according to data source Velo. The platform tracks activities in USDT and USD permanent events listed on Binance, Bybit, Okx and Hyproliquid.
The cumulative open interest is currently 743 million XRP, still 33% higher than on June 22, when the temporary price lowest for XRP was $1.90.
Open interest refers to the number of futures contracts that are open or active at a given time. Growth represents a market influx in the market, although it gives no clues about the nature of traffic.
That said, the recent surge in open interest appears to be led by businessmen chasing bullish long-term bets. This is because permanent financing rates have remained positive, occasionally high at the annual 10% mark, indicating demand for bullish exposure.
Exchanges usually charge every eight hours of funding rates and pay shorts when the demand for bullish bets leads to permanent trading at a premium to spot price.

It also pointed out that the bullish sentiment in the market is the “top trader length/short ratio” in Binance’s listing XRP/USDT market. As of writing, this ratio tracks Small shop Standing at 1.90, this means that each short position has two long positions. Short positions will make a profit when cryptocurrency falls.
Last week, the listed options market saw Traders chase Higher strike XRP call.
Still, the spot price of cryptocurrencies has not been significantly bullish. On Monday, the price rose to $2.35, the last level at the end of May, and fell rapidly to $2.25 and remained at that level.