{"id":223205,"date":"2021-04-09T20:12:20","date_gmt":"2021-04-09T17:12:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/xrp-futures-open-interest-reaches-1-2-billion-record\/"},"modified":"2021-04-09T20:12:20","modified_gmt":"2021-04-09T17:12:20","slug":"xrp-futures-open-interest-reaches-1-2-billion-record","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/xrp-futures-open-interest-reaches-1-2-billion-record\/","title":{"rendered":"# XRP futures open interest reaches $1.2 billion record"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36e6b3626c8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36e6b3626c8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/xrp-futures-open-interest-reaches-1-2-billion-record\/#Positive_news_boosts_XRP_derivatives_market_growth\" >Positive news boosts XRP derivatives market growth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/xrp-futures-open-interest-reaches-1-2-billion-record\/#Social_metrics_activity_has_gone_ballistic\" >Social metrics activity has gone ballistic<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># XRP futures open interest reaches $1.2 billion record <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>XRP\u00a0price&#8217;s\u00a0journey to $1 this year has been nothing short of spectacular, considering the ongoing Securities and Exchange Commission&#8217;s lawsuit against Ripple\u00a0initiated in December 2020. The regulator alleges that XRP was a $1.3 billion unregistered securities offering and both CEO Brad Garlinghouse and co-founder Christian Larsen are also in the crosshairs.<\/p>\n<p>On April 6, Ripple Labs was granted access to the U.S. SEC&#8217;s documents &#8220;expressing the agency&#8217;s interpretation or views&#8221; on the subject of crypto assets.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/666130b3-fea1-4493-aacc-d2c56371da4d.png\"><figcaption style=\"text-align: center;\"><em>XRP price in USD at Bitstamp. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Such <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> coincided with the explosive 75% rally in 30 hours, causing XRP to cross the $1 mark for the first time since March 2018. <\/p>\n<p>It is worth noting that coincidently, on April 5, XRP price posted a 10% gain following the 40% stake acquisition in Tranglo, an Asian fiat money remittance company.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Positive_news_boosts_XRP_derivatives_market_growth\"><\/span>Positive news boosts XRP derivatives market growth<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Whatever the rationale behind such an impressive move, investors&#8217; interest in XRP futures trading skyrocketed as the open interest reached $1.2 billion, a new all-time high.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/4f9689f8-c2f7-42c0-b139-40d4a0fcef78.png\"><figcaption style=\"text-align: center;\"><em>XRP futures aggregate open interest. Source: Bybt<\/em><\/figcaption><\/figure>\n<p>The 119% open interest increase in 30 days caused XRP to retake the third position, which had been lost to Polkadot (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/cardano\/\">DOT<\/a>), Litecoin (LTC) and Cardano (ADA) over the past couple of months. As a comparison, Ether (ETH) futures open interest stood at $3.3 billion just three months ago.<\/p>\n<p>Even though futures buyers and sellers are evenly matched at all times, a healthy derivatives market allows larger players to participate. Once an asset gets enough hedging and arbitrage activity, its volume on spot exchanges tends to grow, and the cycle perpetuates.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/ca85306b-a61c-46df-8a7c-b500dbc15ca6.png\"><figcaption style=\"text-align: center;\"><em>Top cryptocurrencies 1-month performance and volumes. Source: Nomics<\/em><\/figcaption><\/figure>\n<p>As depicted above, XRP spot volume over the past 30 days amounts to $44.3 billion, some 31% of Ether&#8217;s. Regardless of the price move, as long as the token continues to attract investors&#8217; attention, a healthy derivatives market creates a self-fulfilling growth path. <\/p>\n<p>On the other hand, price pumps unaccompanied by spot volume growth raise the risk of large sell-offs and shuns arbitrage traders.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Social_metrics_activity_has_gone_ballistic\"><\/span>Social metrics activity has gone ballistic<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meanwhile, VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for XRP on April 5, while the token price seemingly stagnated at $0.72.<\/p>\n<p>The VORTECS\u2122 score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points, including market sentiment, trading volume, recent price movements, and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> activity. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/b74cc55a-7b48-4160-a67b-9169dc7b66d5.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score vs. XRP (white) price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for XRP flipped green on April 5 and continued to flash a positive indicator as the price rallied to a $1.10 high on April 6, resulting in a 53% gain in 36 hours.<\/p>\n<p>While the indicator currently remains neutral, XRP price could further continue its rally if more positive news regarding the SEC lawsuit emerges.<\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/noshitcoins\"><em>author<\/em><\/a><em> and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.<\/em><\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/xrp-futures-open-interest-reaches-1-2-billion-record\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# XRP futures open interest reaches $1.2 billion record &#8221; XRP\u00a0price&#8217;s\u00a0journey to $1 this year has been nothing short of spectacular, considering the ongoing Securities and Exchange Commission&#8217;s lawsuit against Ripple\u00a0initiated in December 2020. The regulator alleges that XRP was a $1.3 billion unregistered securities offering and both CEO Brad Garlinghouse and co-founder Christian Larsen&#8230;<\/p>\n","protected":false},"author":1,"featured_media":223206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvNWI1MDhmZTItNDA3OC00YjZhLTk5YzMtMWEzMzkxODgxYjcxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75012,75846,75034,75557,73785],"class_list":["post-223205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-derivatives","tag-futures","tag-ripple","tag-xrp","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/223205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=223205"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/223205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/223206"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=223205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=223205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=223205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}