XRP's Resurgent Momentum: Price Breakout, Whale Accumulation, and Derivatives Surge
$XRP is demonstrating strong upward momentum, having recently crossed $2.39 for the first time since May 23rd and now trading at $2.42. This represents a solid 4% increase over the past day and a 7% gain over the last week. This price appreciation is notably underpinned by a significant increase in large holders, with 2,742 wallets now holding at least one million XRP. Collectively, these influential wallets command 47.32 billion XRP, indicating robust confidence and sustained accumulation among major players near the top of the supply distribution.
The heightened activity extends beyond spot markets, with the derivatives sector mirroring this bullish sentiment. XRP's trading volume has seen a substantial jump, climbing 74.1% in the last 24 hours to reach $4.54 billion. In the derivatives market specifically, volume surged by 77.68% to $9.95 billion, and open interest rose by 10.12% to $5.62 billion, signaling a marked increase in speculative activity and overall market engagement for XRP.
