XRP Jumps 10% Ahead of June FOMC Meeting As OI Rises to $2.7B

XRP climbed near 10% on Monday as traders positioned ahead of the Federal Reserve’s June policy decision, but the latest derivatives data shows the move was not just a normal spot-led rebound.

The token traded near $1.24, with CoinMarketCap showing XRP up 8.75% in the last 24 hours. Its market capitalization stood near $76.77 billion, while 24-hour trading volume reached about $1.98 billion.

The stronger signal came from derivatives. Latest open interest data shows total XRP open interest at $2.77 billion, up 12.62% over 24 hours. Open interest also rose 7.51% over four hours and 3.76% in one hour, showing that fresh leveraged positioning entered the market during the price move.

That makes the current rally more aggressive than a simple relief bounce. Traders are adding positions while price is rising, and the liquidation data shows shorts were caught on the wrong side.

XRP Derivatives Snapshot

Why is XRP Price up Today?

The strongest point in the new data is the liquidation split.

In the last 24 hours, XRP saw $7.03 million in total liquidations. Shorts accounted for $6.02 million, or 85.64% of the total. Long liquidations were only $1.01 million.

That confirms the latest XRP move was partly a short squeeze. As XRP pushed higher, bearish leveraged traders were forced to close positions, adding more buy pressure to the market.

The squeeze was visible across shorter timeframes too. Over one hour, XRP saw $644,140 in liquidations, with shorts contributing $617,910. Over four hours, liquidations reached $3.56 million, with shorts at $3.49 million.

This is important because it gives the rally a clearer market structure: shorts were still leaning bearish while price was breaking higher.

Exchange Data Shows Binance Led Liquidations

Binance accounted for the largest share of XRP liquidations in the last 24 hours.

Binance alone contributed nearly half of XRP’s 24-hour liquidation total. That matters because Binance is one of the deepest retail and derivatives venues, so liquidation activity there often reflects broader trader positioning.

Funding Rates Show Shorts Were Still Crowded

The funding rate table also supports the short-squeeze angle.

XRP funding was negative across several major venues, including Binance, OKX, Bybit, MEXC, BingX, Gate, Bitget and LBank. Negative funding usually means short sellers are paying longs, which points to bearish crowding in perpetual swaps.

That makes the rally more interesting. Price rose while funding remained negative across multiple venues. In simple terms, many traders were still positioned for downside, but the market moved against them.

This explains why short liquidations were much higher than long liquidations.

CME and KuCoin Show Heavy Open Interest

Open interest was not concentrated in one venue alone.

The CME figure is especially important. CME held $466.80 million in XRP open interest, nearly matching Binance. That suggests regulated derivatives exposure is now a major part of XRP’s market structure.

CME currently offers CFTC-regulated XRP futures and options that settle to the CME CF XRP-Dollar Reference Rate.

Ripple’s AI Payments Kit Adds a Narrative Boost

XRP also received a fresh narrative catalyst from Ripple’s XRPL AI Starter Kit.

Ripple launched the kit on June 10, saying it would help developers build agentic payment applications on the XRP Ledger. The launch includes X402-powered payments using XRP and Ripple USD, allowing AI agents to pay for APIs, compute and other digital services.

Ripple also said XRPL offers 3–5 second settlement, predictable transaction costs, native multi-currency payments and a built-in DEX. These points strengthen the “machine payments” story around XRP and RLUSD.

However, this should be treated as a narrative catalyst, not proof of mass adoption yet. The product is a developer toolkit, and the market will still need to see real usage, payment volume and integrations before it becomes a durable price driver.

FOMC Is Still the Main Macro Risk

The rally comes just before the Federal Reserve’s June 16–17 FOMC meeting. The official Fed calendar confirms the June meeting dates, and the meeting is tied to updated economic projections.

Markets largely expect the Fed to keep rates unchanged. CME FedWatch showed a 98.5% probability that the federal funds rate remains in the 3.50%–3.75% range through the June meeting.

That means the market is not trading the rate decision itself. It is trading the Fed’s language.

A less hawkish press conference could support the XRP rally. But if the Fed signals sticky inflation, possible future hikes or higher-for-longer policy, leveraged altcoin positions could unwind quickly.

What It Means for XRP Price

The latest data makes XRP’s move stronger, but also more fragile.

The bullish case is that price is rising while shorts are being forced out. Open interest is expanding, volume is higher, and funding is still not showing extreme long-side euphoria. That gives XRP room to continue if buyers hold the $1.20–$1.24 zone.

The risk is that open interest has risen too fast before a major macro event. If FOMC guidance disappoints risk assets, the same leverage that pushed XRP higher could accelerate a pullback.

For now, XRP needs to hold above $1.20. A clean break above $1.25 would keep $1.30 in focus. A drop back below $1.18 would weaken the short-squeeze setup and suggest the move was mostly event-driven positioning.

XRP’s latest rally is now better framed as a short-squeeze before FOMC, not just a broad market rebound.

The key evidence is clear: open interest rose to $2.77 billion, 24-hour OI jumped 12.62%, and shorts accounted for more than 85% of liquidations. That shows bearish traders were forced to cover as XRP pushed toward $1.24.

The setup remains bullish as long as price holds above short-term support, but the Fed decision is the next major test. A softer Fed tone could extend the move toward $1.30, while hawkish guidance could quickly turn the leveraged rally into a pullback.

Also Read: Why is Bitcoin Price Up Today?

Follow The Crypto Times on Google News to Stay Updated!