XRP futures trading volume climbed to $11.37 billion on August 22, its highest level since early February and the strongest reading in more than six months, as derivatives activity accelerated during the token's latest rally. Combined volume across Binance, Bybit, OKX, and Bitget reached that figure, according to CryptoQuant data.

The increase coincided with a sharp rebound in XRP's price — a gain of roughly 45% from recent lows — and a rapid rise in large exchange withdrawals, which climbed to 231 million tokens. Separately, Gemini expanded native XRP Ledger access in Singapore on August 25, giving local users another route to move XRP directly onchain.

Futures Volume Reaches $11.37 Billion

CryptoQuant data shows XRP futures trading volume reached $11.37 billion across four major exchanges on August 22. Binance handled $5.63 billion, while Bybit recorded $2.35 billion. OKX processed $2.04 billion, and Bitget posted $1.35 billion. The combined figure stood about 17.5% above the level recorded on February 5.

The volume spike followed a rapid rise in large XRP withdrawals from exchanges. Transactions involving more than 1 million XRP rose from 54 million XRP on August 19 to 114 million on August 20, then reached 231 million XRP on August 21 — a 4.3-fold increase in large withdrawals within 48 hours. Withdrawals on this scale are typically read by onchain analysts as tokens moving off exchanges into self-custody, though the data itself does not identify the destination wallets.

Futures open interest also moved higher during the latest leg of the rally. Open interest rose almost 6% over 24 hours to about $3.81 billion. Open interest measures the total value of derivative contracts not yet settled, and analysts track it alongside volume as a gauge of how much new positioning is entering the market. The data shows derivatives activity increased across several trading venues while XRP held above $1.40.

Gemini Enables Native XRPL Transfers in Singapore

Gemini has enabled direct XRP deposits and withdrawals through the XRP Ledger for customers in Singapore. The change allows users to move XRP between Gemini, external wallets, and applications that operate on XRPL without relying on another network route. Gemini co-founder Tyler Winklevoss described the rollout as big news for the XRP community in Asia (post on X).

The service expands native XRPL access in one of Asia's major financial and digital-asset markets. Singapore users must still follow Gemini's local transfer requirements, including Travel Rule requirements, deposit attestations, and network-specific checks. Gemini operates in Singapore under a Major Payment Institution licence from the Monetary Authority of Singapore, the country's central bank and financial regulator, and the Travel Rule is a global anti-money-laundering standard from the Financial Action Task Force that requires originator and beneficiary information to accompany virtual-asset transfers.

Ripple has also expanded its activity in Singapore through the MAS BLOOM initiative. The program includes testing Ripple USD, or RLUSD, for cross-border trade and settlement use cases. Ripple, JPMorgan, Mastercard, and Ondo Finance have also taken part in a cross-border tokenized treasury settlement that used the XRP Ledger.

Rally, ETF Flows, and Network Upgrade

XRP traded near $1.44 on August 25 after gaining roughly 45% over the previous week. The token moved from around $1 to nearly $1.70 before sellers pushed the price lower. Short-term support was placed near $1.40, while the $1.65 to $1.70 region remained the nearest major resistance area from the latest rally.

Spot XRP exchange-traded funds also recorded fresh inflows. The funds began trading in the United States earlier in 2025, extending a listed-crypto product expansion that started with US spot bitcoin ETFs in January 2024. Monday's inflows reached $13.82 million, while trading volume across the products totaled $97.24 million. The Bitwise XRP ETF led the session with $8.25 million in inflows. These flows arrived while futures volume and open interest increased across the derivatives market.

The XRP Ledger is also moving through a new software phase with the XRPL 3.3.0 upgrade. The release adds network changes aimed at tokenization, privacy features, and institutional use — the same focus areas behind the XRPL-based settlement and stablecoin work that Ripple and its partners have pursued in Singapore.

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets can experience sharp price movements.