- XRP futures open interest sits near $8.54 billion as of September 17, based on CoinGlass data.
- VivoPower says it will swap mined tokens into XRP at up to a 65 percent discount after expanding its mining fleet.
The derivatives backdrop for XRP tightened as a listed corporate announced an XRP-centric treasury move that hinges on discounted token acquisition.
CoinGlass data shows XRP futures open interest near $8.54 billion on September 17
XRP futures open interest stands at approximately $8.54 billion, with 24-hour futures volume around $4.9 billion and spot turnover near $1.0 billion, placing leveraged positioning firmly in focus ahead of policy and liquidity catalysts.
The headline figure is little changed intraday but notable against the past week’s rise in price toward the three-dollar handle, suggesting traders are maintaining exposure rather than reducing risk into strength.
CoinGlass also tracks market capitalization at roughly $181 billion and circulating supply near 59.7 billion tokens, helping frame positioning against the underlying float and activity.
VivoPower states mined tokens will be swapped into XRP at up to a 65 percent discount
VivoPower International said its digital asset mining unit, Caret Digital, has secured bulk discounts on additional proof-of-work rigs and will expand its fleet. Under the plan, the company intends to exchange mined tokens into XRP, targeting what it describes as an effective discount of up to 65 percent relative to prevailing market prices.
The initiative forms part of a dual-pronged treasury strategy that pairs token swaps from mining with purchases of Ripple Labs equity, with the objective of lowering the average cost of XRP exposure.
The announcement positions VivoPower as one of the few publicly traded firms to name XRP as the core of a treasury allocation framework rather than Bitcoin or Ether.
Management describes the shift as a strategic transformation toward an XRP-focused digital asset enterprise, with portfolio allocation to be managed dynamically in response to market conditions and internal policy.
The company’s stated aim is to accumulate and hold XRP over the long term while supporting XRPL-linked infrastructure and applications. For market participants, the intersection of a rising derivatives base and a new corporate buyer cohort matters for near-term liquidity and basis behavior.
Elevated open interest can amplify funding swings across perpetual contracts when spot flows move abruptly, while off-market accumulation strategies such as mining-to-swap can alter the supply available on exchanges if executed at scale.
As of September 17, CoinGlass indicates an open interest profile consistent with active speculative and hedging activity, while cash volumes remain robust across futures and spot venues.
Whether the effective discount described by VivoPower persists will depend on mining economics, counterparty execution for the swaps, and the trajectory of XRP pricing.
The company has flagged improved mining unit economics alongside negotiated hardware terms, a backdrop that can increase the flow of mined tokens available for conversion into XRP if network difficulty, energy inputs, and realized prices remain favorable.
The strategy’s progress bears watching because it links mining cashflows to a concentrated treasury asset, which can transmit shocks between the mining side and XRP liquidity if market conditions change.
At the time of writing, XRP is trading at $3.0202 USD, down $0.015 or -0.50% over the past 24 hours according to CoinGlass data.
