The open interest of XRP has increased by 18%, reaching $10.52 billion. This momentum indicates that traders anticipate greater price volatility in the short term, and most are accumulating assets to take advantage of the recent upward trend of XRP.
The volume of XRP derivatives also increased by 139.84%, to $39.61 billion, reflecting the growing interest in XRP as it surpasses resistance levels.
In light of this optimism, an XRP whale transferred $173 million (53,477,932 coins), which caught the attention of analysts. The transaction, made by a Ripple whale, has generated speculation about the direction of the market and potential selling pressure. This transfer comes after the recent transaction by Ripple co-founder Chris Larsen, who transferred approximately $26 million in XRP to Coinbase.
