XRP experienced a drop in open interest by 9.72% in the last 24 hours, with investors committing 1.47 billion XRP to the futures market. This decline in open interest corresponds with a decrease in XRP's price performance, with the coin dropping by 2.92% in the last 24 hours to trade at $2.58. Despite this, there is hope for a recovery as trading volume spiked by 46.20% to $5.53 billion in the past 24 hours. Additionally, Brazil has approved the first spot XRP exchange-traded fund (ETF), indicating a significant win for XRP in the South American market. The U.S. market is also waiting for the SEC to decide on the pending application for a spot XRP ETF by Grayscale and other asset managers.



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