{"id":453454,"date":"2024-11-18T16:25:47","date_gmt":"2024-11-18T16:25:47","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=453454"},"modified":"2024-11-19T00:27:11","modified_gmt":"2024-11-19T00:27:11","slug":"xrp-breaks-1-hits-3-year-high-as-open-interest-goes-above-2-billion","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/xrp-breaks-1-hits-3-year-high-as-open-interest-goes-above-2-billion\/","title":{"rendered":"XRP breaks $1, hits 3 year high as open interest goes above $2 billion"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/companies\/ripple\/\">Ripple's<\/a> <a href=\"https:\/\/cryptoslate.com\/coins\/xrp\/\">XRP<\/a> has reached a three-year high, surpassing $1 as open interest in the digital asset hit an all-time peak of over $2 billion.<\/p>\n<p>Over the weekend, XRP briefly touched $1.19, its highest level since 2021, before settling around $110, according to <em>CryptoSlate's<\/em> data.<\/p>\n<p>This represents nearly a 100% increase in the token's price during the past week, reflecting a renewed interest in the digital asset following <a href=\"https:\/\/cryptoslate.com\/people\/donald-trump\/\">Donald Trump's<\/a> victory in the recent US elections.<\/p>\n<h2>Why is XRP rising?<\/h2>\n<p>XRP is among the major cryptocurrencies that market experts see as poised to benefit under Trump's presidency.<\/p>\n<p>Observers believe the ongoing <a href=\"https:\/\/cryptoslate.com\/ripple-resolute-as-sec-does-not-appeal-verdict-not-a-security-focuses-on-exchange-sales\/\">regulatory battle<\/a> with the US Securities and Exchange Commission (SEC) could be resolved during this period, potentially driving more retail and institutional investment into the asset. Ripple CEO <a href=\"https:\/\/cryptoslate.com\/people\/brad-garlinghouse\/\">Brad Garlinghouse<\/a> <a href=\"https:\/\/x.com\/bgarlinghouse\/status\/1857551693967216766\">said<\/a>:<\/p>\n<blockquote><p>&#8220;Markets have responded to Trump's win\u2014he's bringing crypto back to America (making crypto great again?! MCGA!) The incoming Congress will make sure US innovation gets the regulatory clarity it deserves.&#8221;<\/p><\/blockquote>\n<p>Meanwhile, market intelligence platform Santiment <a href=\"https:\/\/x.com\/santimentfeed\/status\/1857854776769130794\/photo\/1\">pointed out<\/a> that the recent rally coincided with significant buying activity from XRP whales and sharks\u2014holders of between 1 million and 100 million tokens.Over the past week, this group has accumulated 453.3 million XRP, worth around $526.3 million.<\/p>\n<p>Retail traders have contributed to this accumulation by selling off their XRP holdings. Last week, more than 75.7 million XRP, valued at $87.9 million, were dumped by retail investors.<\/p>\n<p>Santiment noted that historically, a digital asset tends to see positive growth when its key stakeholders increase their holdings and confidence, while retail-driven fear, uncertainty, and doubt (FUD) can help fuel this rise.<\/p>\n<p>Additionally, Coinglass data shows that XRP is also attracting <a href=\"https:\/\/cryptoslate.com\/coins\/xrp\/\">renewed institutional attention<\/a>, as evidenced by the surge in open interest, which has now reached $2 billion.<\/p>\n<figure id=\"attachment_453518\" aria-describedby=\"caption-attachment-453518\" style=\"width: 1561px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-453518\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-18-161749.jpg\" alt=\"Ripple XRP Open Interest\" width=\"1561\" height=\"577\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-18-161749.jpg 1561w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-18-161749-300x111.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-18-161749-1024x379.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-18-161749-768x284.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-18-161749-1536x568.jpg 1536w\" sizes=\"(max-width: 1561px) 100vw, 1561px\" \/><figcaption id=\"caption-attachment-453518\" class=\"wp-caption-text\">Ripple XRP Open Interest. (Source: Coinglass)<\/figcaption><\/figure>\n<p>Open interest refers to the total number of active futures or options contracts that remain open and unsettled. A significant increase in open interest typically signals heightened speculation, leading to greater volatility as leveraged positions react more sharply to market developments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple&#8217;s XRP has reached a three-year high, surpassing $1 as open interest in the digital asset hit an all-time peak of over $2 billion. Over the weekend, XRP briefly touched $1.19, its highest level since 2021, before settling around $110, according to CryptoSlate&#8217;s data. This represents nearly a 100% increase in the token&#8217;s price during [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":453471,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,77968,15323],"tags":[74979,72399],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>XRP breaks $1, hits 3 year high as open interest goes above $2 billion<\/title>\n<meta name=\"description\" content=\"Donald Trump presidency catalyzes Ripple&#039;s XRP surge as $2 billion open interest indicates rising speculative trades.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/xrp-breaks-1-hits-3-year-high-as-open-interest-goes-above-2-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XRP breaks $1, hits 3 year high as open interest goes above $2 billion\" \/>\n<meta property=\"og:description\" content=\"Donald Trump presidency catalyzes Ripple&#039;s XRP surge as $2 billion open interest indicates rising speculative trades.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/xrp-breaks-1-hits-3-year-high-as-open-interest-goes-above-2-billion\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-18T16:25:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-19T00:27:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/11\/xrp-ripple.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/xrp-breaks-1-hits-3-year-high-as-open-interest-goes-above-2-billion\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/xrp-breaks-1-hits-3-year-high-as-open-interest-goes-above-2-billion\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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