XRP's price has surged 50% this month, reaching seven-year highs above $3, driven by a combination of partnerships, a new stablecoin launch, and speculation about a spot ETF. Record trading volumes and a healthy funding rate in perpetual futures point to continued bullish momentum.
XRP is experiencing a remarkable surge, marking its fastest ascent since the early 2018 altcoin boom. The cryptocurrency's price has skyrocketed by 50% this month, reaching seven-year highs above $3. This impressive rally follows a 240% surge in the past quarter, propelling XRP 's market capitalization to $176.75 billion, securing the third-highest position after stablecoin tether.
Driving this explosive growth are several factors, including a wave of partnerships, the launch of Ripple's stablecoin RLUSD, and speculation surrounding a potential spot XRP ETF. The cryptocurrency's performance is also fueled by a healthy influx of trading volume. Spot market activity has tripled to over $23 billion in the past 24 hours, while derivatives volumes have more than doubled to $34 billion, according to data sources.Further bolstering the bullish sentiment is XRP's record-high open interest in perpetual futures, reaching 2.34 billion XRP. Funding rates, which indicate the cost of holding leveraged bets, are currently hovering around 13%, significantly lower than the overheated 100% recorded in early December. This suggests a more balanced and sustainable market, supporting continued price appreciation. The broader cryptocurrency market is also experiencing a resurgence, with bitcoin surpassing the $100,000 mark, fueled by a slowdown in U.S. core inflation. This positive momentum often spills over into the altcoin sector, further contributing to XRP's rise
XRP Crypto Cryptocurrency Market Bull Run Price Surge Spot ETF Ripple RLUSD Open Interest Funding Rates
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