Trading volume for XRP futures reached a six-month peak on August 22, hitting $11.37 billion. According to CryptoQuant data, this surge in activity was observed across major platforms including Binance, Bybit, OKX, and Bitget.
The increase in futures trading coincided with a sharp recovery in the token's price, which currently ranges between $1.40 and $1.42. The asset's market capitalization is currently in the mid-$80 billions.
Market activity was further supported by increased withdrawals from exchanges. Additionally, institutional interest is growing, as evidenced by the Bitwise XRP ETF surpassing $500 million in assets under management within nine months.
Investors are now monitoring potential XRP ETF approvals and the actions of the U.S. SEC and Ripple's CEO. Other key factors include U.S. interest rates and Bitcoin's price movements.
