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XRP Set For A Fresh Rally? Analytics Firm Flags Jump In Open Interest: 'Investors Are Opening More Positions With The Expectation Of Price Increase'

Published 19/06/2024, 09:04
© Reuters.  XRP Set For A Fresh Rally? Analytics Firm Flags Jump In Open Interest: \'Investors Are Opening More Positions With The Expectation Of Price Increase\'
XRP/USD
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Benzinga - Payment-focused cryptocurrency XRP (CRYPTO: XRP) may have lagged the broader cryptocurrency market in 2024, but investors were hopeful for a shift in market sentiment toward the bullish side.

What Happened: According to the on-chain analytics firm CryptoQuant, speculative interest in the token shot up dramatically, reflected by an increase in open interest past $400 million.

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