The XRP ecosystem is undergoing significant changes due to the influx of institutional investors, reflected in rising open interest and token accumulation.
XRP Open Interest Hits $9.5 Billion
XRP has seen explosive growth in its futures market amid increasing interest from investors. According to data from Coinglass, open interest surged by 142.97% over the last month, skyrocketing from $3.91 billion on June 24 to a staggering $9.5 billion as of July 24. While XRP’s OI dipped slightly by 1.20% in the past 24 hours, it still holds near record levels, indicating a capital influx and heightened activity among both retail and institutional investors.
Institutions Embedding into XRPL
According to crypto analyst Pumpius, what’s unfolding is much more than a market rally. He points to the deepening presence of traditional financial institutions within XRPL infrastructure. "THE GAME IS BEING RIGGED BEHIND CLOSED DOORS. BNY Mellon, ProShares, and other major players are becoming active participants in the XRP market." Notably, BNY Mellon is now custodizing Ripple's RLUSD reserves, while ProShares has launched Ultra XRP ETFs on NYSE Arca.
Whale Accumulation and Regulatory Clarity Fuel Momentum
Institutional buying is not limited to the open market. A different class of whales have reportedly moved off exchanges to accumulate massive amounts of XRP without drawing public attention. XRP reached resistance levels between $3.40 and $3.64, driven by insider accumulation and increasing regulatory clarity under the newly enacted GENIUS Act. Ripple’s stablecoin RLUSD has become a key pillar of institutional XRP adoption.
The unfolding changes in the XRP ecosystem, including the increasing interest from financial institutions and rising open interest, could reshape the future of digital assets and elevate institutional players' dominance in the market.
