XRP Futures Open Interest Hits Highest Since October Ahead of CPI Report

XRP futures open interest has surged to its highest level since October, reaching 2.67 billion XRP on major exchanges, as traders position for heightened volatility ahead of the U.S. Consumer Price Index report scheduled for release this week. The buildup in derivatives activity comes as the token’s price hovers near the critical $1.00 psychological support level, trading around $1.01 to $1.02 as of August 12, 2026.

The increase in open interest, which represents the total number of outstanding derivative contracts, indicates a significant rise in leveraged positions on both sides of the market. Data shows open interest on Binance alone reached approximately 435.1 million XRP, pushing its 30-day Z-Score to about 1.20, a level that points to derivatives activity running above typical ranges. A high Z-Score does not automatically signal a bullish direction, as it only tracks the volume of open positions and does not separate long from short contracts. The pattern suggests traders expect a decisive price move rather than continued drift.

This derivatives positioning is occurring against a backdrop of broader market uncertainty. The upcoming CPI report is a key macroeconomic...