XRP Leads Altcoins Higher as CME Futures Top $30B
Altcoins staged a strong rebound on Tuesday following a steep sell-off over the previous 48 hours, with traders capitalizing on lower prices to re-enter the market. XRP outperformed, climbing 6%, while Solana (SOL) and Dogecoin (DOGE) each gained around 4.5%, and Ethereum (ETH) added 5%. XRP’s open interest also rose 4.2%, signaling renewed speculative engagement.
The recovery coincided with CME Group reporting that crypto futures surpassed $30 billion in notional open interest. SOL and XRP futures each crossed the $1 billion threshold, with XRP achieving the milestone in just over three months—the fastest among major contracts. Analysts interpret the milestone as a sign of growing institutional participation and potential demand for a spot XRP ETF.
Meanwhile, the broader market showed strength, with the CoinDesk 20 Index up 3.6%. Bitcoin (BTC) regained momentum, climbing back above $111,000 after dipping below $109,000 earlier. Despite the rally, blockchain analytics firm Santiment warned that elevated optimism around a potential September Fed rate cut could precede a market correction. Investors are closely watching Friday’s Personal Consumption Expenditures (PCE) Price Index for guidance on the Fed’s next move.
