Traders Add $300M in Leverage as XRP Eyes $1.18 Break

Traders added roughly $300 million in leveraged positions this week, pushing XRP open interest to about $2.6 billion. The token traded around $1.12–$1.13 while futures activity outpaced spot turnover.

Futures volume in the most recent 24-hour window reached about $2.0 billion, roughly seven times spot trading. Broad exchange turnover exceeded $1.1 billion. Recorded 24-hour liquidations were limited, totaling a few million dollars, leaving most of the new leveraged exposure untested by a strong directional move.

Funding rates were modestly positive for short positions, with long traders paying a small premium. Open interest rose by roughly $125 million over the prior week as traders rebuilt derivatives exposure beneath the $1.18 resistance.

Regulated US-listed spot XRP products registered inflows of nearly $6.8 million on July 16 and hold close to $1 billion in net assets, with cumulative inflows near $1.5 billion. Those spot inflows represented under 1% of daily exchange turnover at the time.

Market participants are watching specific price levels. A daily close above $1.18 with sustained daily turnover near or above $1 billion and neutral funding would validate the added open interest and open a route toward the 50-day exponential moving average and about $1.26. A rapid breach of $1.18 could trigger short covering and amplify upside given the heavy futures presence.

If XRP fails to clear the $1.14–$1.18 range and drops below $1.08–$1.10, traders may begin to unwind the rebuilt positions. Falling prices accompanied by contracting open interest would signal position cuts. A drop through $1.08 could turn voluntary reductions into forced liquidations and push open interest back toward mid-July levels near $2.3 billion. A daily close below $1.00 would reopen a deeper downside path.

Recent price action showed a modest multi-day advance, with seven-day gains near 5% and 24-hour moves in the low single digits. XRP remained among the largest tokens by market capitalization and traded with higher turnover than earlier in the month.

The coming days will indicate whether spot demand can absorb futures-driven flows at and above $1.18 or whether a rejection and loss of the $1.08 support will prompt a rapid reduction in open interest.