XRP is experiencing its most significant price increase since early 2018, with a rise of 50% this month and a total 240% rally over the past quarter. This has led to a market capitalization of $176.75 billion, placing it as the third-largest cryptocurrency. The relative strength index (RSI), a key market analysis tool, indicates the strongest momentum recorded in seven years, with an RSI reading of 92. Despite the high RSI suggesting overbought conditions, the market remains healthy, as open interest in XRP's perpetual futures reached a record high of 2.34 billion XRP. Trading volumes have tripled to over $23 billion in the spot market and surged to $34 billion in derivatives. Contributing factors to this surge include growing partnerships for XRP, Ripple's launch of the stablecoin RLUSD, and speculation about a potential spot XRP ETF. Additionally, the broader crypto market is buoyed by Bitcoin's rise past $100,000, encouraging risk-taking within the sector.

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