XRP futures trading in August showed the highest activity in the past six months. According to CryptoQuant, the total trading volume exceeded $64.6 billion across the three largest platforms. The growth was driven by increased price activity: XRP's price rose 28.3% during the month, climbing from $1.06 at the start of August to a high of $1.50 on August 24 and closing at $1.35. As CryptoPotato reports, this was the most active month for XRP futures since February of this year.
The high trading volume was distributed among major cryptocurrency exchanges. Binance led the rankings with approximately $37 billion in XRP futures volume for August, capturing the dominant market share. Bybit came in second with a modest $14.54 billion, while OKX rounded out the top three with $12.88 billion. Alongside the growth in futures, spot trading volume also reached its highest level since February. Binance accounted for approximately $7.28 billion in spot trades, followed by Upbit with $4.68 billion and Bithumb Korea with $2.59 billion. Smaller positions were taken by Bybit, Gate.io, and KuCoin with volumes of $1.4 billion, $1.33 billion, and $1.23 billion respectively.
However, technical analysis points to signs of weakening upward momentum. As analyst ChartNerd notes, XRP has held below the 50-week weighted exponential moving average (WEMA) for three consecutive weeks, and the weekly Stoch RSI remains overbought. Support has shifted to the 20-week WEMA at $1.29, and a further breakdown below the 50-week WEMA could lead to a deeper price correction. On the institutional front, the XRP ETF market continues to show positive dynamics, but the pace of inflows has slowed noticeably. Over the latest period, funds attracted close to $19 million and extended their winning streak to eight consecutive weeks – but this is significantly below the previous week's result, when inflows totaled $110 million. According to CryptoPotato, September began with mixed flows: $5.64 million entered on August 31, then $14.38 million flowed in on September 1, but Wednesday saw the first net outflows since August 5, amounting to $7.2 million, although Thursday brought relief with a fresh inflow of $6.14 million.
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This material is prepared exclusively for informational purposes and does not constitute financial advice or a recommendation.