XRP has climbed about 40% in the past two weeks, from roughly $0.99 to $1.38, according to CoinDesk via ChainCatcher. But futures positioning tells a more mixed story. Total XRP futures open interest contracted 16% to about 2.34 billion tokens, with CoinGlass data showing declines across most exchanges. CME was the exception, lifting its open interest about 36% to 387 million tokens and raising its share of the market from 10% to 17%. CFTC positioning data, as of Aug. 25, shows leveraged funds increased net shorts to roughly 116 million tokens, more than double the prior week's 57 million. Dealers and asset managers took the other side, adding net longs of about 60 million and 28 million tokens, respectively. The shift comes before a procedural Senate vote on the U.S. CLARITY Act, expected around mid-September. The bill fueled a roughly 5% XRP pop when it passed the Senate Banking Committee in May.
Price versus positioning
ChainCatcher reports, citing CoinDesk, that XRP rose about 40% in the past two weeks, from around $0.99 to $1.38. In the same period, total XRP futures open interest fell 16% to roughly 2.34 billion tokens. CoinGlass data shows most exchanges cut their XRP futures positions, with CME as the exception.
Who is on each side
CME lifted its XRP futures open interest by about 36% to 387 million tokens, pushing its share of the total market from around 10% to 17%. CFTC figures as of Aug. 25 put leveraged funds' net short positions at about 116 million XRP, more than double the prior week's 57 million tokens. Dealers and asset managers added net longs of roughly 60 million and 28 million tokens, respectively.
Clarity Act timing
The positioning shift comes before a procedural Senate vote on the U.S. CLARITY Act, expected around mid-September. When the bill passed the Senate Banking Committee in May, XRP jumped about 5%.
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