XRP’s open interest has surged by $6 billion since the start of January 2025, reaching a new all-time high of $7.9 billion, with a notable increase of 27.34% in the past 24 hours. This spike indicates a significant shift in XRP’s trading activity as the altcoin experiences a price discovery phase, notably achieving a three-month consecutive streak of growth for only the second time in its history. Despite these developments, analysts assert that this rally is primarily driven by spot trading rather than futures market participation. Spot volumes have increased, confirming the altcoin's strength, while the futures market reacts with bearish sentiments. Additionally, XRP's exchange reserves have risen by 10% on Binance amidst this market enthusiasm. Whale activity has also seen an uptick, with significant transactions observed, highlighting a renewed interest in XRP. Overall, these metrics suggest that XRP is poised for further growth in the current market climate, emphasizing the balance between bullish spot trading and bearish futures activity.

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