XRP Overtakes HYPE in Open Interest to Hit $2.60B Amid Institutional Renewal

XRP has surpassed HYPE in open interest, reaching $2.60 billion as of July 20, according to CoinGlass data.

This surge in derivatives traders' conviction and capital flow indicates growing institutional engagement in the XRP ecosystem.

The major catalysts behind this momentum include Ripple's partnerships with tradfi and crypto native firms, inflows into spot ETFs, and demand from derivatives amid low funding rates.

Ripple has partnered with several notable companies to build the future of finance, including Ondo Finance, Mastercard, JPMorgan, and OKX.