XRP (XRP) futures trading surged in August, with volume across Binance, Bybit and OKX topping $64.6 billion and reaching its highest level since February.
Key Points:
- XRP futures volume across Binance, Bybit and OKX exceeded $64.6 billion in August.
- Binance led with about $37 billion, while XRP also recorded its strongest spot activity since February.
- Technical signals remained mixed as ETF inflows slowed and XRP stayed below its 50-week WEMA.
XRP Futures Volume
Data from CryptoQuant showed futures activity rising across major exchanges in August, led by Binance, which handled roughly $37 billion in XRP contracts during the month.
Bybit recorded about $14.54 billion, while OKX processed approximately $12.88 billion, bringing combined volume on the three platforms above $64.6 billion.
The increase marked XRP’s busiest futures month in six months. Spot activity also reached its highest level since February, with Binance handling about $7.28 billion, followed by Upbit at $4.68 billion and Bithumb Korea at nearly $2.59 billion.
Bybit, Gate.io and KuCoin posted about $1.4 billion, $1.33 billion and $1.23 billion in spot volume, respectively, while Bitget and Coinbase each remained just below $1 billion. The broader rise in trading activity pointed to renewed liquidity across both derivatives and spot markets.
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ChartNerd Technical Outlook
Crypto analyst ChartNerd said XRP has remained below its 50-week weighted exponential moving average for three consecutive weeks, while the weekly Stochastic RSI remains overbought. The 20-week WEMA near $1.29 now acts as support, and continued weakness below the 50-week level could open the way to a deeper correction.
Institutional demand also stayed positive, although the pace slowed sharply. XRP exchange-traded funds drew nearly $19 million during the latest week, extending their inflow streak to eight weeks after attracting more than $110 million in the previous period.
Flows started with $5.64 million on Aug. 31 and $14.38 million on Sept. 1, before investors withdrew $7.2 million on Wednesday, the first net outflow since Aug. 5. Another $6.14 million entered on Thursday, while Friday produced no net movement.
The August derivatives surge followed a strong month for XRP’s price, which climbed nearly 30% from $1.06 at the start of August to $1.50 on Aug. 24 before closing the month at $1.35. That price swing helps explain why futures and spot trading both returned to levels last seen in February across major exchanges.
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