Ripple-linked XRP has crossed the $3 mark for the first time in seven years, driven by unprecedented interest in the derivatives market.
Data from CryptoSlate shows that the digital asset spiked by 10% in the last 24 hours to as high as $3.19 at the time of writing.
The recent price surge reflects a broader wave of renewed interest in XRP, which has been gaining momentum since Donald *****’s election victory in November 2024.
This heightened activity is evident in the derivatives market, where XRP futures have seen unprecedented growth. According to Coinglass data, open interest in XRP-related contracts has surged by 300% since the start of the year, nearing the $8 billion mark.
Bitget has emerged as the leading platform for the token’s futures trading, holding 22% of the market share with $1.79 billion in open positions. Other key players include Gate.io ($1.58 billion), Binance ($1.51 billion), Bybit ($1.49 billion), and OKX ($468 million).
The post XRP futures open interest nears record $8 billion as price breaks $3 appeared first on CryptoSlate.