XRP Skyrockets 43%, Driven by Short-Term Trading: Insights from Derivatives Activity

XRP’s price surged significantly over the past 24 hours, witnessing a remarkable 43.1% increase in derivatives trading volume to $4.42 billion, as per CoinGlass data. This surge stands out against a generally cautious market where major assets have seen minimal changes in flow and positioning. 🧐 While this jump is notable, it’s crucial to note that open interest in XRP futures dipped by 2.04%, indicating the activity may stem from short-term trades rather than building long-term positions.