XRP’s open interest has skyrocketed to $7.9 billion, a sixfold increase since the start of the year, reflecting a surge in market activity. Analysts attribute this growth primarily to the spot market, with data showing a low correlation between spot and futures cumulative volume delta (CVD). This suggests that spot investors are the main drivers behind the rally, rather than leveraged futures traders.

Exchange reserves have also increased, with Binance’s XRP holdings rising by 10% since December. Whale activity is notably on the rise, with transactions exceeding $100,000 hitting a six-week high, signaling strong interest from large investors.

This sustained momentum, coupled with heightened spot demand and increased whale participation, underscores XRP’s strengthening position in the market. With these dynamics in play, XRP continues to capture significant attention as it leads the way in the evolving crypto landscape. Show Less