XRP's institutional futures market is consolidating on CME even as offshore venues shed more than 500 million tokens of exposure in two weeks.
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XRP futures shift to CME as open interest climbs 36%
XRP rallied 40% week-over-week toward $1.40 as of Aug. 31, with CME futures open interest climbing 36% while offshore venues shed more than 500 million tokens of exposure.
CFTC data shows XRP open interest on CME reached 389.2 million tokens, with leveraged funds holding a net short of 115.7 million XRP — more than double the prior week's 57.35 million. Dealers and asset managers moved the opposite direction, adding net longs of 59.75 million and 28.25 million tokens respectively.
US spot XRP ETFs recorded net inflows of $110.49 million in the week through August 28, the strongest weekly figure since early December 2025, according to SosoValue. Cumulative inflows since the products launched reached nearly $1.66 billion, with net assets under management at $1.44 billion.
The divergence between institutional accumulation and spot-market selling pressure leaves XRP at a critical juncture. The $1.35–1.38 support zone holds roughly 3.2 billion tokens of traded volume, and a break below that level could trigger further deleveraging. A sustained rally, meanwhile, would pressure leveraged funds' growing short positions.
CME's expanding footprint
The migration of XRP futures exposure to CME reflects a broader institutional build-out. Ripple Prime launched a delta-one desk for total-return swaps on US equities, indices and digital assets on Thursday, aimed at hedge funds and asset managers. The unit holds regulatory net capital exceeding $1 billion, supported by a $275 million bond placement in August and a $200 million credit facility from Neuberger Specialty Finance.
The RLUSD stablecoin, issued on both the XRP Ledger and Ethereum, crossed the $2 billion mark in total supply, with 44% circulating on the XRP Ledger and 56% on Ethereum. Multiple eight-figure minting events occurred in recent days.
Positioning data tells a mixed story
Open interest on XRP futures at CME jumped nearly 40% within a week, while leveraged funds nearly doubled their net short position to roughly 115.7 million XRP. Exchange reserves have fallen from 2.8 billion to 2.6 billion XRP, a signal that holders are moving tokens into custody rather than preparing to sell.
A scheduled release of 1 billion XRP by Ripple, set for today, is a recurring monthly event that can introduce short-term supply pressure. Meanwhile, XRP Ledger validators are voting on native lending features, including single asset vaults — a proposal requiring more than 80% validator approval over two weeks, with support currently at just 34–37%.
The US Senate's consideration of the CLARITY Act, seen as a potential framework for digital assets, resumes after September 14, with a vote scheduled for September 15. Until then, the interplay of Fed commentary, token unlocks and the fate of the $1.35–1.38 support zone is likely to determine XRP's near-term direction.
This article is for informational purposes only and does not constitute investment advice.
