XRP Trading Heats Up but Price Lags Behind Market Gains

Over the past three months, XRP’s price has dropped by 6%, even as the overall cryptocurrency market gained about 10%.

This comes despite some positive news for XRP, including Ripple’s legal victory over the SEC in early May 2025 and XRP being shortlisted as a candidate for the U.S. Digital Asset Reserve earlier this year.

Trading activity in XRP futures has increased notably. As of May 22, open interest in XRP futures reached 923 million XRP, worth around $2.2 billion. This is a 31% rise from two weeks earlier.

Additionally, funding rates, which indicate demand for leverage, have climbed to an annualized 19%, above the typical range of 7% to 14%. While these numbers show more trading, they don’t clearly signal whether the price will go up or down.

Despite winning its case against the SEC, Ripple has not yet engaged much with U.S. lawmakers, and there are no new policies or laws supporting XRP.

Looking ahead, key events that could impact XRP include a decision on a spot XRP ETF expected in the fourth quarter of 2025, ongoing blockchain activity, and future regulatory updates in the U.S.

For now, market sentiment remains cautious. The increased futures trading activity may not be enough to push XRP’s price higher, and with no official XRP ETF approval yet, investors remain watchful. Whether XRP can still rally to $3.50 depends on how these upcoming developments unfold.