In January, the price of XRP surged by 50% to reach a seven-year high above $3. This rise continued the coin's 240% increase in the last quarter of 2024, allowing XRP to move into third place among cryptocurrencies, surpassing Tether. The rise in XRP's price was attributed to whale accumulation, expectations for an increasing XRP ETF, and record activity in XRP-related derivatives. Additionally, XRP's perpetual futures open interest reached an all-time high of 2.34 billion XRP, indicating a healthier market for continued price gains. XRP's ongoing bullish momentum is supported by both XRP-specific factors and broader crypto market dynamics, such as the recovery of Bitcoin and altcoins. XRP's price currently stands at $3.11, marking an 8.5% increase in the last 24 hours.



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