XRP futures contract open interest once approached $2 billion, hitting a record high

According to CoinGecko data, XRP broke through $1.2 last Saturday, hitting a new high in more than three years, and rose by more than 80% this week, now at $1.06. According to CoinGlass data, XRP futures contract open interest once approached $2 billion, a record high. Nick Forster, founder of the on-chain options DeFi protocol Derive, said: "XRP futures contract open interest has recently soared to record levels, indicating that traders are interested, which is usually a bullish indicator of the market. Coupled with the continued high positive funding rate, this suggests that new market participants may be taking advantage of the "XRP basis trading opportunity." (Decrypt)