Ripples unsettled contract value has skyrocketed to an astounding $3 billion, indicating a possible change in investor attitude following a phase of intense selling activity. This enormous inflow of pending agreements, equivalent to 1.4 billion XRP units, follows an 8% price increase, propelling XRP past the $2 threshold to approximately $2.20.
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Although the wider cryptocurrency market encountered substantial declines lately, XRP displayed notable strength, rebounding swiftly after momentarily falling beneath the critical $2 support point. This implies robust fundamental purchasing power and could signify that the most severe selling may have concluded for XRP, particularly without an imminent danger of a bearish technical pattern emerging. Observers are currently monitoring intently to determine if this upswing in open interest will transform into a prolonged upward trajectory for Ripple.
At present, Bitget leads in XRP futures trading, possessing roughly one-third of outstanding agreements, valued at approximately one billion USD. This implies a significantly optimistic outlook on Ripple’s XRP amongst Bitget’s investors.
