XRP rises by 14% and approaches the $1.70 level last seen in April 2021
XRP climbed 14% in the last 24 hours, outperforming Bitcoin and other major cryptocurrencies, extending a month-long streak that saw the price rise by 200% to make the cryptocurrency the top-performing token alongside Dogecoin.
Several fundamental and regulatory developments have pushed the price of XRP to levels not seen since April 2021, and bulls are now targeting the $2 mark as a sign of renewed strength for the previously troubled token.
Trading volume increased by 30% in the last 24 hours to $10 billion. The volume was led by the South Korean exchange UpBit.
Open interest denominated in XRP and US dollars is above record levels, with over 2 billion tokens (worth over $2 billion at current prices) in futures positions betting on increased market volatility.