XRP Futures Volume Surges 30% as Price Hits New High

XRP futures trading volume surged to $64.6 billion in August, marking its highest level since February. The increase coincided with a nearly 30% price jump from $1.06 to $1.50.

Binance led the derivatives market with $37 billion in futures volume, followed by Bybit and OKX. Spot trading also rose, particularly on Binance and South Korean exchanges.

The surge is attributed to whale accumulation ahead of a key September vote and growing interest in XRP ETFs, which saw $18.96 million in inflows.