XRP Surges Past $1.60 as ETF Capital and Derivatives Activity Signal Bullish Momentum

Key Highlights

• XRP surged beyond $1.60 to reach $1.62, marking its strongest performance in eight months.
• Total XRP exchange-traded fund inflows reached $1.73 billion by September 22.
• Futures open interest in XRP surpassed $4.1 billion, eclipsing both Hyperliquid and Zcash.
• Large-value transactions and new wallet registrations surged in tandem with the price rally.
• Four leading Canadian financial institutions previously piloted XRP technology for international payment settlements.

XRP price broke through the $1.60 barrier for the first time since early February, based on analytics from Santiment. The digital asset subsequently reached an intraday peak of $1.62 during the session.

Analytics platform Santiment documented 1,917 individual XRP transfers valued at a minimum of $100,000 each. The platform characterized this as the most robust high-value transaction activity observed in approximately 30 days.

While these substantial transfers don’t necessarily indicate accumulation by long-term holders, they demonstrate that major market participants are actively adjusting their positions as prices climb.

Blockchain network expansion also gained momentum. Santiment identified 3,647 newly created XRP addresses, suggesting fresh market entrants are joining the ecosystem.

The XRP Ledger infrastructure continues broadening. Combined tokenized-asset holdings and RLUSD balances recently approached $4.26 billion, while Ripple independently confirms approximately $2.4 billion worth of RLUSD currently in active circulation.

Exchange-Traded Fund Capital and Derivatives Market Expansion

Data from SoSoValue indicates that aggregate net capital flowing into XRP exchange-traded products totaled $1.73 billion through September 22. During that specific trading day, XRP spot ETFs attracted $20.02 million in fresh capital, with Bitwise contributing $19.16 million of that amount.

Recent daily flow patterns have shown volatility. The products experienced zero net movement on September 21, followed by a $43.70 million withdrawal on September 18, and a $5.15 million outflow on September 17. September 16 marked a positive day with $3.50 million in new investments.

Bitwise simultaneously submitted an amended XRP ETF registration document to the Securities and Exchange Commission on September 18.

In parallel developments, XRP derivatives open interest climbed to $4.1 billion during a 24-hour window, representing a nine-month record. This elevation positioned XRP above both Hyperliquid and Zcash in terms of futures market positioning, per Coinglass metrics.

Trading volume across derivatives platforms hit $9.4 billion, substantially exceeding the $2.2 billion registered in spot markets. CME futures positioning increased by more than 16% within 24 hours to reach $756 million. Binance futures interest expanded 10% to approach $700 million.

XRP generated over $17 billion in aggregate liquidations throughout a 24-hour period, trailing only Bitcoin and Ethereum. Market participants liquidated $9.50 million worth of short positions, including one notable $5.09 million XRPUSDT forced closure on Binance.

Market analyst MikybullCrypto addressed the price movement on X, suggesting that XRP might experience a 51% surge following its recent technical breakthrough.

Veteran trader Peter Brandt has similarly offered an extended timeframe projection. His analysis forecasts XRP potentially reaching $5.40, with technical indicators pointing toward a move above $5 within the coming year.

Canadian Financial Institution Pilots and Wider Market Context

Four among Canada’s six major banking institutions conducted XRP testing for interbank international payment processing back in 2016. The participating institutions included Royal Bank of Canada, Bank of Montreal, CIBC, and Scotiabank.

All six of Canada’s premier banks have subsequently initiated a collaborative tokenized-deposit initiative focused on blockchain-based payment infrastructure. The initial implementation facilitates tokenized Canadian dollar movement among the six institutions, with subsequent phases designed to integrate the framework with additional digital asset platforms.

The underlying technology powering this current initiative remains unspecified, making it premature to characterize this as Canada explicitly selecting XRP infrastructure.

The cryptocurrency market broadly recovered throughout this same timeframe. Trump’s announcement of planned discussions with Iran during the United Nations General Assembly contributed to positive momentum across Bitcoin, Ethereum, XRP, and various alternative digital assets.

XRP’s upward trajectory emerged after a mid-September deleveraging phase connected to the CLARITY Act voting process, with valuations rebounding from $1.30 to the recent $1.62 high point.