XRP's price surged over 20% on November 17, 2024, exceeding $1.20, driven by regulatory clarity and upcoming technical developments. The surge coincided with a significant increase in open interest (OI) in XRP futures, reaching record levels, with over 2 billion tokens at stake, totaling nearly $2 billion. This indicates new money entering the market, reflecting bullish sentiment, though traders showed a slight bias towards short positions. The rally in XRP prices was partly fueled by legal actions against the SEC by 18 U.S. states, which traders speculate may lead to a more crypto-friendly regulatory environment. Additionally, Ripple Labs is set to launch the RLUSD stablecoin, which could enhance XRP's utility in cross-border payments and potentially integrate with various DeFi platforms. In contrast to this price movement, Bitcoin remained stable, highlighting XRP's unique growth in the current market.

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