Binance Dominates Record-Breaking XRP Futures Volume

XRP derivatives trading surged to a six-month high in August, driven by increasing institutional interest and price action. Binance dominated XRP futures volume, processing over $37 billion in contracts during the month.

This accounted for approximately 57% of total volume across three exchanges, with Bybit following closely behind at $14.54 billion and OKX clearing $12.88 billion.

The rally pushed XRP up nearly 30% for the month, from $1.06 early in August to $1.50 by August 24, before settling near $1.35 as the month closed.

Institutional players continued to build positions in XRP-linked products, with CME overtaking Binance as the largest venue for XRP open interest at nearly $530 million.