Massive 342% Surge in Key $XRP Metric Stuns Crypto Community - Utoday Analytics

Irma - Sep 13 - - Dev Community

XRP has seen a significant surge in trading volume, rising 342.3% in the last 24 hours to reach $3.15 billion, according to CoinGlass. This increased activity suggests a shift in market sentiment, with bulls gaining strength and bears receding. Open Interest (OI) also jumped 5.59% to $637.35 million, indicating growing investor confidence.

In the last 24 hours, XRP's price has surged 5.33% to $0.5652, breaking out of its bearish channel. The coin was trading at a low of $0.5374 earlier in the day but quickly rose amid the bullish trend.

The price spike is linked to speculation around XRP spot ETFs, following Grayscale Investments' relaunch of its XRP Trust. Optimism around potential XRP-based products is fueling further gains in the cryptocurrency.

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