The open interest of XRP has reached a new all-time high of approximately 1.8 billion USD, according to data from CryptoQuant. 📈

- This increase comes after positive developments from the company behind XRP and hopes for a more favorable regulatory environment in the USA.

- XRP has surged in price, reaching over 1.6 USD for the first time in three years, thanks to expectations that SEC Chairman Gary Gensler will leave office in January 2025.

- Donald Trump's victory in the recent election has also brought about an optimistic sentiment, with hopes for more crypto-friendly regulations.

- The filing for the XRP ETF has also attracted interest from institutional investors.

Despite rising 180% in the past month, the price of XRP is still 50% lower than its all-time high. However, many analysts remain optimistic about XRP's potential in this cycle. 🚀