The spot trading volume of the XRP coin rose to about $1.36 billion over 24 hours by the end of this week, while the price climbed by roughly 7%, reclaiming the $1.41 level.
According to CoinGlass data, XRP’s spot trading volume reached around $1.36 billion, while the total trading volume recorded on CoinMarketCap approached $4.9 billion, up by nearly 90% within one day.
### Pressure on short positions… but futures still dominate
This surge wasn’t a clean breakout; it was pressure on short positions (short squeeze). Reports indicated that XRP triggered the liquidation of about $8.05 million worth of short positions.
This move came as crypto prices generally rose after Bitcoin regained the $80,000 level, triggering a broad wave of selling pressure on short positions in the market. By comparison, long positions only suffered losses of about $2.36 million. At the same time, liquidations of leveraged positions in the crypto market reached about $300 million within four hours after Bitcoin broke above $81,000, pushing altcoins higher.
This context matters to investors: XRP futures contract trading volume is about $5.71 billion—more than four times spot trading volume. When futures move so far ahead of spot, the rally can collapse quickly if leverage is liquidated. Notably, XRP futures trading volume reached the highest level in six months in August, a pattern that preceded previous periods of volatility.
This end-of-week move didn’t come with new fundamentals. Earlier in September, the XRP price fell to around the $1.23–$1.30 area after the Senate failed to pass the CLARITY bill (49–50). The market’s outlook for XRP was then uncertain, and the rise on Saturday is considered merely a rebound after that drop—not a fresh fundamental catalyst.
### ETF fund flows provide support… and whale deposits add uncertainty
The strongest institutional signal isn’t in the price, but in ETF data. U.S. XRP spot fund inflows surpassed $1.7 billion, providing the clearest evidence of institutional demand right now.
21Shares pointed to a gap between growth in XRPL network activity and the token price performance. This gap may close over time, but it hasn’t yet. On the other hand, XRP whale deposits to the Binance platform totaled around 1.6 billion XRP over the past 30 days—the highest level in six months.
CryptoQuant analysts noted that this could reflect a reallocation of assets rather than a direct sale. However, with Binance reserves nearing their 69-day high, potential selling pressure is real. Any price stall here could trigger further selling from these positions.
From a practical utility standpoint, the real use-case for the network continues to build as Ripple adds XRP and RLUSD to Stripe and Tempo payments supported by AI. Separately, the Moscow Exchange is scheduled to launch perpetual XRP futures on September 22, adding another derivatives venue and potentially more leverage, at a time when XRP spot trading volume is trying to stay above $1 billion.
At the same time, Ripple’s legal situation remains intact. After the CLARITY bill vote failed, Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed that:
“Ripple and $XRP stand on solid ground.” The 2023 Judge Torres ruling and the SEC–CFTC read in March 2026 remain the two foundational pillars of this situation.
The main question for investors is simple:
Can XRP’s spot trading volume stay above $1 billion as the week continues, with positive ETF fund inflows continuing and whale holdings at Binance ceasing their rise?
- If yes, the $1.45 and then $1.50 levels become real tests.
- If not, this week’s end-of-week move joins a series of highly volatile rebounds within the $1.23–$1.50 range that characterized September for followers of XRP spot trading volume.