Ripple-linked XRP has crossed the $3 mark for the first time in seven years, driven by unprecedented interest in the derivatives market.Data from CryptoSlate shows that the digital asset spiked by 10% in the last 24 hours to as high as $3.19 at the time of writing.The recent price surge reflects a broader wave of renewed interest in XRP, which has been gaining momentum since Donald Trump’s election victory in November 2024.This heightened activity is evident in the derivatives market, where XRP futures have seen unprecedented growth. According to Coinglass data, open interest in XRP-related contracts has surged by 300% since the start of the year, nearing the $8 billion mark.Ripple XRP Open Interest (Source: Coinglass)Bitget has emerged as the leading platform for the token’s futures trading, holding 22% of the market share with $1.79 billion in open positions. Other key players include Gate.io ($1.58 billion), Binance ($1.51 billion), Bybit ($1.49 billion), and OKX ($468 million).XRP Open Interest Positions (Source: Coinglass)Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
