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XRP Tops Coinbase with $1.38 Billion in 24-Hour Trading Volume

XRP's price has soared over 125% this month, driven by record futures open interest and increased network activity, indicating strong bullish momentum.

XRP

Summary

XRP's price has surged to $3.6510, a 125% increase from its April low, with a market cap exceeding $207 billion. Futures open interest reached an all-time high of $10.6 billion, while XRP Ledger's total value locked rose by 70%. Additionally, assets in the Teucrium 2X Long Daily XRP ETF hit $506.6 million, reflecting robust demand and bullish sentiment.

Terms & Concepts
  • futures open interest: The total number of outstanding contracts that have not been settled, indicating market liquidity and trader interest.
  • total value locked (TVL): A metric used to measure the total amount of assets staked or locked in a specific protocol, indicating its popularity and usage.
  • cup-and-handle pattern: A technical chart pattern that resembles a cup and handle, indicating a potential bullish continuation.