XRP futures open interest surges…ETF listings revive buying sentiment

XRP (XRP) has rebounded after recent adjustments, and futures open interest has surged, showing that investor sentiment in the derivatives market is noticeably recovering.

On the 25th (local time), U.Today reported that as XRP's price fell to $2.12 during the day and then recovered to around $2.28, open interest in the derivatives market increased by about 1.82 billion.

According to Coinglass's tally, open interest rose 8.5% over 24 hours, and XRP's price, per CoinMarketCap, rose 3.41% to trade around $2.19.

U.Today said this increase in open interest signals that leveraged long positions are rebuilding even during short-term downturns.

Even after weeks of price adjustment, futures positions have quickly recovered, and it was analyzed that some investors are betting on additional upside in December. However, it has not yet fully recovered pre-adjustment highs, so some also said that on technical grounds it needs to break above the upper end of the trading range.

The recovery in spot and futures market sentiment also appears to have been influenced by recently launched XRP exchange-traded funds (ETFs).

U.Today reported that the Franklin Templeton XRP ETF and the Bitwise XRP ETF have steadily attracted institutional demand since listing, increasing trading volume.

It is assessed that funds flowing in through spot ETFs are spilling over into the derivatives market, raising both open interest and trading volume.

U.Today said that the simultaneous recovery in XRP's futures and spot markets "shows that investor sentiment has not completely faded during the price correction phase," and forecast that the next direction will depend on how much the market reflects additional buying interest and expectations of seasonal returns in December.