XRP derivatives activity has remained strong even as the cryptocurrency continues to struggle with price momentum.
According to data shared by Santiment on May 22, the XRP network recorded approximately 4,300 new wallet creations within 24 hours. The increase marked the fourth-largest spike in network growth recorded so far this year.
The surge occurred while XRP traded around $1.37, alongside elevated derivatives activity across major platforms including Binance and the Chicago Mercantile Exchange. Analysts are paying close attention because sharp increases in wallet growth often reflect rising trader interest before significant market moves.
Wallet Growth and Futures Activity Rise Together
Santiment described the latest jump in wallet creation as one of XRP’s strongest network expansion periods of 2026. The analytics platform added that network growth has historically served as one of the more reliable indicators for spotting potential market reversals.
The increase also coincided with heightened activity in XRP’s derivatives market. According to Arab Chain, open interest in XRP futures on Binance climbed to roughly $488 million this month, representing one of the highest levels recorded since March.
Open interest spent much of May steadily increasing, which analysts generally interpret as a sign that traders are opening more leveraged positions. However, rising open interest alone does not confirm whether traders are leaning bullish or bearish.
At the same time, exchange flow data shared by analyst Amr Taha showed XRP withdrawals on Binance accounting for 53% of transaction activity, compared with 47% for deposits. The previous time withdrawals reached similar levels was on April 10, when XRP traded around the same $1.34 price range.
Higher withdrawal activity can indicate that traders are moving assets away from exchanges rather than preparing them for immediate selling. While this may point to reduced short term selling pressure, it does not necessarily guarantee that a rally is about to begin.
XRP Price Performance Remains Weak
Despite rising network and trading activity, XRP’s price has remained relatively subdued. Data from CoinGecko showed the token slipping 0.3% over the past 24 hours after fluctuating between $1.35 and $1.38 during that period.
The asset is also down roughly 8% over the past week and nearly 5% over the last month. On a yearly basis, XRP has lost more than 43% of its value and remains over 62% below its July 2025 all time high of $3.65.
Institutional Demand for XRP Products Remains Strong
While XRP’s spot price has struggled, institutional participation in XRP related products has remained relatively stable.
As previously reported by CryptoPotato, CME’s XRP futures products generated nearly $63 billion in notional trading volume during their first year on the market.
CME introduced the XRP futures contracts in May 2025 through both standard and micro sized products tied to the XRP Dollar Reference Rate. Since launch, traders have exchanged approximately 1.32 million contracts, representing nearly 28.6 billion XRP in trading volume.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
