XRP Derivatives Activity: OI Hits $2.23 Billion as Short Positions Get Liquidated

XRP saw a rebound as crypto markets rose on Wednesday, recovering from a sell-off triggered by pain in other asset classes.

At the time of writing, XRP was up 5.17% in the last 24 hours to $1.41 as the crypto markets rebounded, with volatility increasing across global financial markets.

XRP had fallen previously, reaching a low of $1.33 in the previous day’s session. The price rose alongside its open interest, rising 7.04% in the last 24 hours to $2.24 billion, according to CoinGlass data.

XRP’s price move had caught bearish traders unawares, with shorts bearing the brunt of the liquidations. According to CoinGlass data, XRP saw $4.24 million in liquidations in the last 24 hours, of which $2.85 million were short liquidations and $1.4 million in long positions suffered liquidations.

XRP broadly remains in a range, fluctuating between $1.13 and $1.67 as traders watch the next move.

XRP and Ripple news 

Ripple’s head of engineering, JA Akinyele, stated that in collaboration with XRPLF, Ripple is strengthening XRPL validator coordination, upgrade readiness, amendment risk classification and communication protocols. A security-focused Software Development Lifecycle (SDLC) would mark a meaningful step toward exposing critical bugs as early as possible.

Ripple is also increasing its investment in security tooling, independent audits and formal verification to support this effort.

The lessons from Batch (where a bug was discovered) have already been applied to upcoming amendments, including the lending protocol.

Ripple will also be expanding the bug bounty program and formalizing adversarial testing campaigns prior to activation.

Ripple announced a major expansion of its Payments network into a full-stack infrastructure platform that allows businesses to collect, hold, exchange and pay out in both fiat currencies and stablecoins through a single provider.

The added capabilities, supported by recent acquisitions Palisade and Rail, consolidate custody, treasury automation, virtual accounts, conversion and settlement into one integrated system for cross-border payments.