XRP Futures Set New Record on CME, Crossing $1 Billion in Open Interest

On the Chicago Mercantile Exchange (CME), XRP futures contracts reached a new milestone, surpassing a record of $1 billion in open interest in just over three months. This achievement marks the fastest pace for any CME crypto contract and reflects the growing activity from professional traders. Analysts attribute this surge to expanding DeFi applications and increasing institutional investments. However, it’s important to note that this doesn’t necessarily guarantee spot accumulation, as other factors like basis trades, hedging activities, or directional views also play a role in driving open interest.