Ripple XRP Rises 298% in Volume as Price Surges Double Digits
The value of Ripple XRP has been steadily increasing and has risen by a substantial amount recently. Its trading volume has gone up by 298%, which is a significant rise. In just the last two days, the price of XRP has gone up by double digits. Moreover, there has been a surge in open interest, with a 25.71% increase in the last 24 hours. Open interest now stands at $1 billion.
Moreover, as per information collected by CoinGlass, the volume of XRP-linked derivatives trading on the cryptocurrency market has increased to a staggering $8.75 billion. The upsurge is not limited to derivatives and futures of XRP alone, as the spot market is also expanding. XRP has seen a significant surge in trading activities, recording a volume of $7.66 billion and securing the sixth spot among the top 100 cryptocurrencies globally in terms of spot trading volume.
Some investors may feel that they missed out on the recent increase in Ripple XRP, as most other alternative cryptocurrency markets have already been going up for the past couple of months. Nevertheless, XRP is starting to gain traction, and people are showing a lot more interest in the digital asset lately. Even though XRP experienced a price drop recently, it has still gone up by 10% over the last week. Therefore, the token's traded volume has also increased.
Additionally, Check Out: Can XRP Achieve $1 Following Ripple's Attempt to Break a 6.5-Year Downtrend?
The rise in trading volume and price increase for XRP is a positive sign for its future. XRP is now experiencing similar positive trends to other cryptocurrencies which bodes well for its growth in the upcoming week. Currently, the Ripple token is valued at $0.6834.
Should the current trajectory of XRP persist, individuals optimistic about the digital asset's prospects can anticipate a substantial surge in value that could even surpass the $1 mark. XRP's objective is to leave behind a prolonged period of decline and ride this positive momentum towards uncharted territory.
