CoinGape reported on September 8 that XRP futures volume across Binance, Bybit and OKX topped $64.6 billion in August as XRP rallied nearly 30%. It described CME’s lead over Binance in open interest—the value of outstanding contracts—as signaling a potential shift toward regulated venues. Citing CryptoQuant, CoinGape warned that the volume surge did not confirm market direction, with crowded long positions—bets on rising prices—adding risk ahead of a CLARITY Act vote it said was scheduled for September 15.
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CoinGape says CME open interest reached $530 million, ahead of Binance’s $510 million, but cites CryptoQuant’s warning that surging volume does not confirm market direction.
CoinGape reported on September 8 that XRP futures volume across Binance, Bybit and OKX topped $64.6 billion in August as XRP rallied nearly 30%. It described CME’s lead over Binance in open interest—the value of outstanding contracts—as signaling a potential shift toward regulated venues. Citing CryptoQuant, CoinGape warned that the volume surge did not confirm market direction, with crowded long positions—bets on rising prices—adding risk ahead of a CLARITY Act vote it said was scheduled for September 15.
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