XRP is experiencing a resurgence in trading activity, with a notable increase in derivatives activity on Binance, indicating potential accumulation despite market selling pressure. This uptick in engagement suggests traders are regaining confidence, with the token surging 21% over the past week and surpassing a $150 billion market cap.

*Key Statistics:*

- *Current Price*: $2.58 (3.08% gain over the previous 24 hours)

- *Market Cap*: $141.03 billion

- *Open Interest*: Rebounded from $530 million to over $730 million, indicating renewed market confidence

- *Funding Rate*: Neutral, suggesting equilibrium between bullish and bearish positions

- *Liquidations*: Over $35 million, with $22.82 million from long positions

*Market Analysis:*

The rebound in open interest and neutral funding rate suggest a recovery in market confidence. The Binance Taker Buy/Sell Ratio stands at 0.91, indicating selling pressure, but the absence of significant price declines implies potential absorption by larger players, signaling a precursor to bullish price movements.¹ ²

*Future Projections:*

Some analysts predict a potential upward move, with one analyst projecting a price near $17.8 if XRP recovers its 2018 dominance share. Another analyst predicts XRP could reach $1,000, with a short-term target of $10-$20.