$XRP
🚨XRP Records Its Best Month🚨
July has been the strongest month for XRP so far, with the price seeing major gains following several market updates. Data from CoinMarketCap shows that XRP surged over 41% in the past 30 days, holding steady above the important $3 support level.
According to Coinglass, XRP faced a wave of liquidations in the last 24 hours. The total value of these liquidations was more than $17.5 million, with nearly $13 million coming from long positions, as buyers exited following a rejection around the $3.2 mark, leading to a selloff.
Open interest for XRP dipped slightly, down 0.16%, now standing at $8.46 billion. Despite this small decline, the funding rate remains positive at 0.0092%, suggesting that traders still lean toward a bullish outlook even though bearish pressure is growing.
Over the past week, monthly XRP futures have been consistently trading at a 6% to 8% premium, which shows that market sentiment remained stable during the $3 price retest. Even when XRP briefly moved above $3.6, there was no sharp rise in demand for leveraged long positions.
Some of the recent buying demand around XRP also comes from speculation about a U.S.-approved spot ETF. If approved, it could positively impact other altcoins as well, including Litecoin, Solana.
