Open Interest for XRP Perpetual Futures has recently skyrocketed to around $610 million, according to data from Kaiko. Perpetual Futures are a form of derivative contract that is cash settled with no expiration date, and is often used to gauge market sentiment and the strength of underlying price moves. On March 22, XRP Perpetual Futures Open Interest spiked to around $500 million, followed by a downtrend. But this week, Open Interest began surging again, reaching its peak of $610 million at Wednesday. Furthermore, the chart from Kaiko showed spot XRP daily trading volume of around $2.5 billion, driven largely by the Korean market, further suggesting increasing sentiment and investor uptake. This anticipation surrounding the XRP token was further reinforced by the pending SEC case against Ripple, which is expected to be concluded before the end of March. James Filan, a lawyer monitoring the case, estimated that the outcome should be delivered before March 31, though there has been no official confirmation of the deadline. Indeed, the spot price of XRP has show significant rises since March 22, with gains of up to 57%. This price surge demonstrates an increasing optimism from XRP investors and a greater involvement from the larger cryptocurrency market.



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