XRP has seen a sharp move today, climbing 5% in price and attracting renewed attention from traders and investors.
According to CoinMarketCap data, its 24-hour trading volume rose to more than $3.3 billion, a sign of growing market activity.
This increase in volume helped push XRP price higher, giving traders a reason to re-enter or add to existing positions. More important than the price jump is what’s happening under the surface.
Derivatives data shows a clear shift in trader sentiment. Open interest on XRP futures has grown to $1.7 billion.
This means more money is flowing into XRP-based leveraged trading. The rise in open interest is often a sign of strong conviction, especially when price rises alongside it.
Traders are not just active—they are leaning heavily bullish. Over 75% of them are holding long positions across key timeframes.
A long position means the trader expects the price to rise. This level of bias toward the upside suggests strong confidence in XRP’s short-term potential.
XRP momentum builds without news catalyst
It also shows that the current move is being backed by real money and expectations. When most traders are long and price is rising, it creates momentum.
This momentum often leads to even more buying pressure, especially if XRP clears resistance levels on the chart. This surge in volume and positioning is happening without any major news from Ripple or U.S. regulators.
That gives the market room to react more strongly if a legal or policy update arrives. It also shows that the interest in XRP is coming from technical and trading dynamics.
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In addition, a strong long bias and high open interest mean price swings can become sharper. That creates chances to profit from volatility. However, it also raises the risk of fast reversals if the sentiment shifts.
As U.Today reported, XRP might be in for another strong price rally, according to Don Alt. Don Alt rose to fame for successfully predicting the coin’s 2024 rally.
XRP has been in the spotlight following notable developments recently. However, $56 million in XRP was sent to Coinbase earlier today, suggesting a massive sell-off attempt.
Also, XRP on-chain activity rose sharply after the SEC approved Grayscale’s proposal to convert its Digital Large Cap Fund into a spot ETF—a fund that includes XRP.
