XRP Futures Open Interest Soars Amid Price Surge

The cryptocurrency market experienced a surge in XRP’s price over the past week, leading to a significant rise in open interest for its futures contracts according to data from Glassnode. The open interest has increased by nearly $1 billion, jumping from $2.42 billion to $3.42 billion – a 41.6% increase. This rapid growth coincides with the price jump from $2.14 to $2.48, highlighting heightened speculative activity and increasing confidence in the asset’s direction.