Fresh data from on-chain analytics platforms indicates a significant uptick in XRP market activity. CryptoQuant reported that open interest for XRP futures on Binance climbed to approximately $488.3 million, marking one of the highest levels in the past two months. The metric showed a steady rise throughout May, peaking near $500 million in mid-May — its highest since March — before a minor pullback left it still elevated.
Simultaneously, Santiment highlighted a surge in XRP Ledger network usage. As the token price broke above $1.54 for the first time since late March, active addresses jumped to 48,453 — the busiest day since March 30. Network growth metrics also rose, suggesting new wallets entering the ecosystem. This confluence of price breakout and on-chain engagement stands out as the Ledger had been relatively quiet for weeks.
Adding an institutional layer, seven spot XRP ETFs are now live in the U.S. with combined assets under management exceeding $1.2 billion. CryptoQuant noted that prolonged high open interest could increase volatility risk if leveraged positions accumulate. The immediate focus remains whether the activity can sustain beyond a single-day spike, with traders watching if XRP holds above $1.54 while active addresses remain elevated.
