XRP Surges 300% in 2025, Reaches New All-Time High

XRP has entered uncharted price territory for the first time since 2017, hitting a new all-time high. Open interest (OI) has surged sixfold since the beginning of the year, reaching $7.9 billion, underscoring robust market momentum.

According to CoinTelegraph on January 17, XRP has maintained its upward trajectory for three consecutive months, achieving new peaks on some exchanges. If XRP surpasses $3.40, it will cement a definitive all-time high. As of January 1, 2025, XRP's open interest stood at $1.92 billion, soaring by 300% within just 16 days to $7.9 billion.

Spot Market Driving XRP Rally

Data from CoinGlass shows XRP futures trading volume doubled during the same period, reaching $42.87 billion. However, the rally appears to be driven more by the spot market than by futures activity. On-chain analyst Dom highlighted that the low correlation between cumulative volume delta (CVD) in the spot and futures markets suggests the price surge is primarily fueled by spot investors.

Dom further explained that while futures traders have maintained short positions against XRP’s rise, spot trading volumes have continued to increase. XRP's funding rates have remained stable throughout January, indicating that the futures market has not significantly supported the bullish momentum. This reflects an ongoing tug-of-war between bullish spot investors and bearish futures traders.

Exchange and Whale Activity Rising

XRP holdings on exchanges have steadily grown in recent weeks. CryptoQuant data reveals that Binance’s XRP reserves increased by 10% since December 16, indicating some investors are taking profits, though holdings remain below the 2024 average.

Meanwhile, data analytics platform Santiment reported a surge in activity among XRP whale investors, with transactions exceeding $100,000 hitting a six-week high. Over the last eight hours, 2,365 such transactions were recorded, accompanied by a noticeable uptick in the number of XRP holders.

Market Outlook

XRP’s robust momentum, driven by strong spot demand and increased whale activity, suggests that its streak of record-breaking highs could continue. As the market watches for a breakout beyond $3.40, XRP is firmly positioned as a key leader in the cryptocurrency space for 2025.