XRP Futures Volume Hits $11.37B as Gemini Expands XRPL Access

XRP futures volume climbed to its highest level in more than six months as derivatives activity accelerated during the token’s latest rally. Combined volume across Binance, Bybit, OKX, and Bitget reached $11.37 billion on Aug. 22, according to CryptoQuant data.

The increase coincided with rising exchange withdrawals and a sharp rebound in XRP price. Gemini also expanded native XRP Ledger access in Singapore on Aug. 25, giving local users another route to move XRP directly onchain.

XRP 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 increase 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. They then reached 231 million XRP on August 21. The change marked a 4.3-fold rise in large withdrawals within 48 hours.

XRP also recorded higher futures open interest during the latest move. Open interest rose almost 6% over 24 hours to about $3.81 billion. The data shows that derivatives activity increased across several trading venues while XRP held above the $1.40.

Gemini Opens 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.

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 rules, deposit attestations, and network-specific checks.

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.

XRP Rally Meets ETF and Network Activity

XRP price 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. XRP price prediction placed short-term support 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. 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.

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