Recent growth in activity on the futures market for XRP has led to increased investor interest and a slight rise in the token's price.
Activity in the Futures Market
XRP is seeing a spike in futures market activity, with traders committing $3.96 billion for over 1.8 billion XRP in the last 24 hours. Open interest has increased by 0.92%, indicating a renewed interest in the asset.
XRP Ledger Milestone and ETF Optimism
The XRP network achieved a significant milestone, processing over 12 million transactions in 24 hours, which enhances market participants' confidence. Additionally, the likelihood of the approval of an ETF for XRP has risen to 90% on Polymarket, signaling positive developments in the digital currency sector.
Investor Caution
Nevertheless, some investors remain cautious as they observe how XRP's price will develop. Recent large transfers by major holders raise concerns about potential selling pressure on the asset's price.
XRP demonstrates rising interest and activity, but investor caution may impact future price movements. The success of the network and the potential for an ETF could be key factors in further recovery.
