CandleFocus

1.7 Billion XRP in 24 Hours, Here's What Changed

Author: Content Editor
Over the past week, the price of XRP has surged by over 60%, reaching a yearly high of $1.256. This rise in price is attributed to the ongoing bull market. XRP's Open Interest (OI), which indicates the total outstanding derivatives contracts, has also increased from 1.68% to 5.13% within four hours. This suggests that more traders are entering the market to purchase XRP, likely influenced by its recent price performance. Bybit, Binance, and Bitget are the leading exchanges in terms of XRP trading activity. The increase in open interest could improve liquidity for XRP and potentially allow for larger trades with minimal price volatility. Meanwhile, Ripple's plans to launch its RLUSD stablecoin are being closely watched by the crypto community, with concerns surrounding stablecoin issues in other projects. Overall, XRP's performance and the upcoming launch of RLUSD are generating interest in the XRP community and the wider crypto industry.

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