5 hours ago
Ripple-linked XRP has crossed the $3 people for the archetypal clip successful 7 years, driven by unprecedented involvement successful the derivatives market.
Data from CryptoSlate shows that the integer plus spiked by 10% successful the past 24 hours to arsenic precocious arsenic $3.19 astatine the clip of writing.
The caller terms surge reflects a broader question of renewed involvement successful XRP, which has been gaining momentum since Donald Trump’s predetermination triumph successful November 2024.
This heightened enactment is evident successful the derivatives market, wherever XRP futures person seen unprecedented growth. According to Coinglass data, unfastened involvement successful XRP-related contracts has surged by 300% since the commencement of the year, nearing the $8 cardinal mark.
Ripple XRP Open Interest (Source: Coinglass)Bitget has emerged arsenic the starring level for the token’s futures trading, holding 22% of the marketplace stock with $1.79 cardinal successful unfastened positions. Other cardinal players see Gate.io ($1.58 billion), Binance ($1.51 billion), Bybit ($1.49 billion), and OKX ($468 million).
XRP Open Interest Positions (Source: Coinglass)The station XRP futures unfastened involvement nears grounds $8 cardinal arsenic terms breaks $3 appeared archetypal connected CryptoSlate.
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