XRP Surpasses HYPE in Open Interest to Reach Record $2.6 Billion

XRP has recorded a significant surge in open interest over the past few days, surpassing Hyperliquid's HYPE token. According to CoinGlass data, XRP perpetual and futures open interest climbed to $2.60 billion as of July 20.

This sharp increase indicates growing conviction among derivatives traders and capital flow into XRP. The total XRP futures open interest jumped more than 10% in the past 24 hours, while HYPE's open interest dropped by over 2.50% during the same period.

The rising demand for XRP can be attributed to several factors, including Ripple's partnerships with traditional and crypto-native firms, inflows into spot ETFs, and derivatives traders amid low funding rates.