XRP (XRP) has demonstrated impressive price action in recent days, climbing to its highest level in two months and showcasing strong bullish momentum.
XRP price rose to its highest level in two months on Friday, signaling strong bullish momentum as it breached the $2.50 mark. The digital asset reached a daily high of $2.61, marking its highest point since March 6, according to recent market data.
The cryptocurrency posted gains of 4% over the 24 hours to 07:00 ET and is up 6% over the last week.
Trading activity for XRP saw a dramatic increase. The 24-hour spot trading volume surged to $10.83 billion, showcasing a 193.5% increase compared to the previous day.
Derivatives trading showed even more impressive numbers. Trading volume in XRP derivatives showed a 237.27% increase, reaching $19.4 billion. Meanwhile, open interest climbed 13.55% to $5.23 billion, based on data from Coinglass.
This heating up of the derivatives market is quickly adding to the bullish case for XRP in the short term.
As the third-largest cryptocurrency by market capitalization,
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