Ripple-linked XRP has crossed the $3 mark for the primary time in seven years, pushed by unprecedented curiosity within the derivatives market.
Information from CryptoSlate reveals that the digital asset spiked by 10% within the final 24 hours to as excessive as $3.19 on the time of writing.
The latest value surge displays a broader wave of renewed curiosity in XRP, which has been gaining momentum since Donald Trump’s election victory in November 2024.
This heightened exercise is clear within the derivatives market, the place XRP futures have seen unprecedented development. In response to Coinglass knowledge, open curiosity in XRP-related contracts has surged by 300% because the begin of the yr, nearing the $8 billion mark.
Bitget has emerged because the main platform for the token’s futures buying and selling, holding 22% of the market share with $1.79 billion in open positions. Different key gamers embody Gate.io ($1.58 billion), Binance ($1.51 billion), Bybit ($1.49 billion), and OKX ($468 million).
