XRP Jumps 7% In A Day – What's Fuelling The Surge?

XRP XRP/USD spiked over the past 24 hours as momentum builds ahead of a major catalyst. With rising key metrics, traders are eyeing significantly higher price levels.  

Trader Notes: Crypto trader Javon Marks believes XRP is in the early stages of a major bullish continuation. He cites a clean breakout and sets ambitious upside targets of $4.80 and $8.00.

Trader CW noted that XRP is pressing against a significant sell wall. If it clears this resistance, the next key level to watch is $2.60.

Statistics: Crypto chart analyst Ali Martinez XRP active addresses soared to 1.12 million last week, signaling heightened on-chain activity.

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Coinglass reports that XRP’s open interest surged 11.4%, with derivatives trading volume up 123.3% in just one day. Total liquidations hit $7.2 million, with $5.7 million in short liquidations, the highest daily total since May 12, indicating traders betting against XRP were caught off guard by the rally.

Community News: Purpose Investments has received the final prospectus receipt for its Purpose XRP ETF, which is set to begin trading on the Toronto Stock Exchange (TSX) under the ticker XRPP on June 18. This marks a significant development in crypto finance, offering direct exposure to spot XRP for institutional and retail investors alike.

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