- Bitcoin maintains a strong position as altcoins surge fiercely.
- The price of Ripple’s XRP pumped by over 15% taking the price to over $1.
- This hike led to XRP Futures Open Interest hitting an ATH.
As Bitcoin maintains its $90,000 position with targets set to hit over $100,000 by the end of Q4, sentiment for a bullish altseason grows stronger. Mirroring the altcoin market expectations are altcoins themselves that are either showing bullish indicators or have already begun to pump showing glimpses of a glorious altseason ahead.
XRP Breaks Past $1 Sets Bullish Momentum
In the limelight today is Ripple’s XRP, this long-appreciated token is a popular altcoin in the crypto space. In 2018, XRP set an ATH of $3.40. Since then the asset has been trying to break past a crucial barrier in the $0.6 level. Over the last 48 hours, the price of XRP saw a sudden pump that led to the asset going over 2x in price.
XRP Futures Open Interest Hits New ATH
Indeed, the price of XRP pumped from $0.58 where it has been stuck for almost two crypto cycles and broke past $1 to reach a trend high of $1.21. This has led to a sudden interest in XRP Futures. So much so that the XRP Futures Open Interest hit a new ATH of its own, as we can see from the image below.
As depicted in the image above, XRP Futures Open Interest on exchanges reached an all-time high of $2.11 billion on Nov 18, 2024, with XRP token trading at $1.16. Presently, according to CoinMarketCap analytics, the price of XRP stands at $1.15 with a total market cap of $66,362,315,443 and a 24-hour trading volume of $116,550,587,464.
The post XRP Futures Open Interest Hits ATH as XRP Price Pumps by Almost 100% in the Last 7 Days appeared first on Crypto News Land.