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XRP rose to a high of approximately $1.53 on Tuesday, which increased its overall market value to nearly $93.4 billion, overtaking Binance Coin (BNB) in global cryptocurrency rankings. The price action was accompanied by a 125% surge in trade volumes, which showed increased participation as resistance near $1.47 was broken.
According to derivatives data from Coinglass, open interest in Binance XRP futures has increased to around 353 million XRP. This is about 59% higher than the level recorded near the end of October 2023. At that time, open interest was approximately 222 million XRP.
The price during that period was also higher than the current levels. Increased open interest alongside lower spot prices suggests traders are establishing new leveraged positions rather than closing existing ones.
Growth in market valuation occurred while XRP remained significantly below its all‑time highs. The token continues to trade nearly 40 % below its peak price, underlining that the recent rally is occurring during a broader recovery phase rather than a full price rebound.
The surge in open interest on Binance represents a significant change in derivatives action on XRP. The open interest is used to determine how many active futures contracts are open and is used to measure leverage and commitment by traders.
The upsurge to 353 million XRP is approaching past levels prior to the market downturn of last year. This indicates that participants still have room to add exposure before they get to past levels of leverage concentration.
During the October 2025 crash, the open interest had exceeded 400 million XRP as the price fell between about $3.65 and less than $2. This fall was also coupled with deleveraging, but traders are registering new positions even though the current prices are lower than before.
A stronger open interest is often regarded as a sign of confidence in the derivative traders. Nevertheless, it can also raise riskiness in case the mood shifts rapidly. Higher leverage has a history of widening price swings both ways.
The change in market cap rankings between XRP and BNB shows the dynamics of capital flows into the crypto market. The market capitalization of XRP outperforming BNB indicates a more widespread trend in the investor base in terms of the rotation of capital out of some large-capitalization investments into those with short-term momentum.
While XRP’s derivatives data points to structural activity, price levels remain below past peaks. This indicates that the recovery phase is partial rather than a return to previous highs. The trading volume surge and heavy derivatives usage highlight current engagement from both retail and professional market participants.
Market data from trading platforms show mixed performance across major cryptocurrencies. On the same day XRP climbed higher, other assets like Bitcoin and Ethereum also posted gains, while BNB experienced relative softness in price movement.
Traders and analysts now watch critical price zones to determine whether XRP can maintain its reclaimed ranking or if capital flow shifts again.
