XRP Futures Volume Surges to Six-Month High

The XRP futures market has seen significant activity in recent days, with volumes reaching $11.37 billion on August 22, according to data from CryptoQuant.

This marks a six-month high and is nearly 17.5% above the level recorded on February 5.

The increase in volume comes as XRP has rebounded, climbing back above the $1.40 level after a 4.3-fold increase in large exchange withdrawals over 48 hours.

Verified CryptoQuant author Amr Taha noted that the jump followed a surge in large-transfer outflows through transactions involving more than 1 million XRP, which rose from 54 million on August 19 to 231 million by August 21.

XRP futures volume was led by Binance, with $5.63 billion traded on August 22, followed by Bybit at $2.35 billion and OKX at $2.04 billion.