In April, the price of XRP soared 260 percent, from $0.57 on March 31 to $1.97 on April 14, the highest level since January 2018. XRP futures reached an unprecedented $2.1 billion open interest as a result of the move. As cryptocurrency markets plummeted on May 19, XRP lost 60% of its value in four days, liquidating $510 million in long positions. The open interest in futures contracts has retraced to $550 million.