XRP Perpetual Futures Open Interest Hits Record $8.8B Amid Market Surge XRP Rally Incoming?

XRP's price has increased, reaching a six-month high, driven by a surge in trading activity related to its perpetual futures contracts. The total value of these contracts reached a record $8.8 billion. Exchanges like Bitget and Binance are seeing the most leveraged trading. The number of wallets holding at least 1 million XRP tokens has also hit a new high. Ripple plans to withdraw its cross-appeal against the SEC, with the regulator expected to drop its own appeal. XRP's price has rallied significantly over the past year. Technical indicators suggest strong buying interest but also caution for potential short-term pullbacks. Traders should watch for support near the $3.00 level and look for continuation signals above the recent high at $3.31.