Ripple's XRP is drawing renewed interest from both derivatives traders and exchange-traded fund (ETF) investors, even as the token's spot price has yet to demonstrate significant upward momentum. The divergence highlights a broader pattern in crypto markets, where leveraged positioning and institutional product flows can build independently of spot price direction, often preceding—or failing to produce—a decisive move.

XRP Futures Open Interest Rises Above 30-Day Average

On Binance, XRP's 30-day Open Interest (OI) Z-Score has climbed to 1.60, well above its recent average. Total open interest stood at approximately 440.6 million XRP at press time, compared with a 30-day average of 418.5 million XRP and a standard deviation of 13.8 million XRP.

Open interest measures the total number of outstanding derivative contracts that have not been settled, serving as a gauge of how much capital is deployed in leveraged positions. A Z-Score above 1.0 signals that current OI is elevated relative to its recent range, indicating that traders are taking on more directional bets than usual.

The data, tracked by CryptoQuant, indicates increased participation from derivatives traders, though this has not yet translated into a clear price breakout. While OI has risen, it remains far below the levels observed during the 2025 rally.

Should price and open interest rise in tandem, the dynamics could shift. Conversely, if leverage continues to build without corresponding price appreciation, the market could become more vulnerable to volatility and liquidation events.

XRP ETFs Record $8.15 Million in Weekly Inflows

The derivatives market is not the only area showing activity. XRP ETFs attracted $8.15 million in weekly inflows, marking an improvement over the previous week and extending a recovery following recent outflows. As of press time, total assets under management across XRP ETF products have reached $1.04 billion.

Spot XRP ETFs, which began trading in 2025 after securing regulatory approval, have given regulated investors a way to gain exposure to the token without holding it directly, making their flow data a useful barometer of broader institutional sentiment.

This inflow activity occurred despite limited apparent upside potential for XRP's price at current levels. However, weekly ETF flows have been inconsistent, meaning sustained inflows would be needed to establish a firm trend.

XRP Price Action Shows Mild Strength but Weak Trend

The combination of derivatives and ETF activity has provided XRP with a modest technical lift, though insufficient for a major rally. XRP traded near $1.14 at press time, having recovered from the $1.05 zone, with $1.15 serving as immediate resistance.

The Relative Strength Index (RSI) offered buyers a slight edge, with the positive directional indicator positioned above the negative one. However, the Average Directional Index (ADX) sat at a low 13.17, signaling a weak overall trend. ADX readings below 20 generally indicate a market without a strong directional bias, meaning that breakouts from such conditions often require a significant catalyst.

A daily close above $1.15 could open the door to further gains, while a decline below $1.10 may bring the $1.05 support level back into focus.