#TradingPairs101

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

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