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In the last 24 hours, the interest in XRP-tracked futures exceeded $1.1 billion. It’s the highest record this year, beating last week’s $1 billion mark.
Data shows that XRP tokens surged as much as 6% for a second straight day of gains even as major cryptocurrencies remained little changed. The tokens touched 80 cents, matching last week’s highs, before pulling back.
Since Tuesday, the number of unsettled futures contracts (open interest) has increased by 21%. This suggests that more people place bets on assets like tokens or stocks, indicating an influx of new money into the financial market. It also means that the current trend is expected to continue.
Most of these positions, $443 million worth, are held on the crypto exchange Binance, followed by Bitget at $250 million.
Many people have become interested in XRP tokens after a U.S. court ruled that selling XRP on exchanges doesn’t involve investment contracts. As a result, the value of XRP surged by as much as 96%, and the trading volumes quickly rose to billions of dollars.
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