#CEXvsDEX101

Market observers believe that the sharp increase in the open interest volume for XRP contracts reflects a rise in speculative activity, hinting at the possibility of a price breakout in the near term, as the currency is trading around the $2.20 level on Tuesday morning.

Ryan Lee, the chief market analyst at Bitget, said: "Open interest for XRP jumped to nearly $5 billion (over the weekend), indicating increased speculative activity as traders take large positions in the derivatives market."