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XRP saw increased futures activity on Bitmex crypto exchange in a 24-hour period, rising 2,668.58% to reach $100.57 million, according to CoinGlass data.
The increase in volumes coincides with a slight uptick in XRP's open interest, which suggests traders actively placing their bets ahead of potential developments in the market.
XRP spot ETFs are expected to launch in the U.S. in the days ahead; according to Bloomberg Intelligence analyst James Seyffart, the upcoming week is set to be an eventful one as the Grayscale and Franklin Templeton U.S. XRP ETFs are expected to launch on Nov. 24. The 21Shares XRP ETF is also anticipated soon.
Bitwise XRP ETF sets historic volume milestone in U.S.
This week, XRP scored another pure play 33 Act ETF in the U.S. The Bitwise XRP ETF with ticker $XRP began trading on the NYSE on Thursday, marking an impressive debut. The Bitwise XRP ETF $XRP reported $25.7 million in trading volume with $107.6 million in inflows.
The Bitwise XRP ETF ended the week with volume of 1,000,324; this, according to Bitwise CEO Hunter Horsley, solidifies it as the XRP ETF with the current highest volume in the U.S.
Horsley wrote: "The Bitwise XRP ETF ($XRP) Now the highest volume XRP ETF in the US. Grateful for investors for entrusting Bitwise for exposure to the space."
XRP price bottom?
XRP fell below $2 for the first time since Oct. 10's flash crash, dropping to a low of $1.81 on Friday.
According to Glassnode, with XRP's price dropping near $2, the 30D-EMA of daily realized losses has increased to $75 million per day, which is the highest level since April 2025.
As the market awaits what comes next, the current setup suggests capitulation, indicative of a price bottom forming soon.
At the time of writing, XRP was up 2.51% in the last 24 hours to $1.90 and down 16% weekly.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team