XRP is attracting attention in the cryptocurrency world now due to the dramatic increase in user activity and open interest.
Surge in XRP Addresses
The daily number of XRP addresses has shown impressive growth in the last 24 hours by 442.7%, reaching 181,000. This kind of on-chain move indicates increasing interest and real usage of the coin.
Alignment with Derivatives Momentum
The expansion in addresses coincides with a firm open interest in the futures markets at $2.8 billion, reflecting both retail and institutional activity. Such a combination is uncommon in the market.
Current Market Conditions
XRP is currently trading at $2.11 after a drop of 3.31% in the last day. However, trading volume has increased by 2.06% to $2.89 billion, indicating ongoing interest without a major sell-off.
The surge in XRP's activity and open interest amidst current market conditions may signal a potential shift in both price action and sentiment among holders.
