XRP Surges 20% in Just a Few Hours Alongside Strong On-Chain Signals

XRP emerges as a leading cryptocurrency, showcasing a notable 18.9% price surge, reaching $0.7293.

Azcnews (1)

XRP has emerged as one of the standout digital assets among the top 100 by market capitalization, marking a significant milestone in its recent surge.

Over the past 24 hours, the price of XRP surged abruptly to $0.7293, achieving an impressive gain of 18.9%. This surge not only represents a unique increase in value but also comes with a substantial rise in trading volume, surpassing the $5 billion mark. Litecoin (LTC) closely followed XRP’s lead with a notable increase of 18.4%, securing its position as the second-highest gainer.

Analyzing the derivatives data for XRP, we observe a positive sentiment among traders during this upward trend. The trading volume of XRP futures has significantly increased by 348.07%, reaching a total value of $5.62 billion. Concurrently, open interest, representing the total value of outstanding futures contracts, rose by 30.44%, reaching $1.06 billion.

Xrpusdt
Xrpusdt

Despite a 46.56% decrease in options trading volume, the open interest for XRP options increased by 15.02%, indicating traders’ interest in long-term value while holding XRP options. On the trading platforms, Binance leads with $366.88 million in open interest for XRP futures contracts, followed by Bybit with $312.19 million and Bitget with $157.02 million.

Related: XRP Price Plummeted as Volume Peaked

However, the sudden surge in XRP’s price is accompanied by significant liquidation activity, highlighting potential risks associated with XRP futures contracts trading. In just one hour, the total liquidation value reached $1.02 million, underscoring the market’s volatility. Over the 24-hour period, the liquidation amount reached $9.95 million, with both long and short positions facing considerable liquidation risks.

5.0/5

(1 vote)
  1. Avatar of Gian Kharlo
    Gian Kharlo

    support

Comments are closed.

Latest

Azcnews Xrp Poised To Surge To $1.96 Amid Positive Signals

News | Altcoin | Analytics | Editor Choice | Video

XRP Poised to Surge to $1.96 Amid Positive Signals

XRP has increased by 30% in just 2 days with positive news from Gary Gensler's resignation, causing excitement among investors. XRP price may increase sharply in the near future, reaching the $1.96 mark.

Dwf Labs Establishes $20 Million Investment Fund For Memecoins

News | Editor Choice | Memecoin

DWF Labs Establishes $20 Million Investment Fund for Memecoins

Controversial Investment Fund DWF Labs Announces $20 Million Fund for Memecoin Sector.

Azcnews Bitcoin Surges To $99,000 Despite Profit Taking By Investors

News | Analytics | Bitcoin | Editor Choice

Bitcoin Surges to $99,000 Despite Profit-Taking by Investors

Despite long-term investors taking profits continuously over the past few days, Bitcoin price continued to rise sharply and hit $99,000.

Gary Gensler Announces Resignation Date As Sec Chairman

News | Editor Choice | Policy & Regulations

Gary Gensler Announces Resignation Date as SEC Chairman

U.S. Securities and Exchange Commission (SEC) Announces Gary Gensler Will Resign on January 20, 2025, Same Day as Trump’s Presidential Inauguration.

How To Participate In The Portal Airdrop

Airdrops | Editor Choice | News

How to Participate in the Portal Airdrop

Portal is a DeFi platform for Bitcoin that has successfully raised $42.5 million. It is currently running a testnet program and will offer rewards for participants. Join the Portal Airdrop now!