After three factors came together to help XRP outperform the larger cryptocurrency market, the cryptocurrency rose 5.5% to $2.19 in the last day.
XRP micro futures' introduction on Robinhood was one among the driving forces.
Because of their smaller size, the contracts give traders more freedom to hedge existing positions or place bets on the future direction of the worth of the cryptocurrency.
The bullish setup was completed by on-chain data. Citing Glassnode data, cryptocurrency analyst Ali Martinez claimed that the XRP Ledger recorded more than 1.1 million active addresses in the previous week.
Due to its increase, XRP outperformed the larger cryptocurrency market, as evidenced by the 1.7% increase in the CoinDesk 20 (CD20) index during the past day.