XRP, the altcoin affiliated with Ripple, attracted attention by recovering despite the market decline. Optimism in XRP's price has increased despite the massive whale sell-off. According to on-chain data, there was a movement parallel to the recovery in the general market.

Whale Movements Affect the Market

Despite the whales moving 82.67 million XRP to the exchanges, the price of the altcoin showed resistance. According to data from Whale Alert, a large amount of XRP was transferred to exchanges. With these moves and other small transactions, XRP managed to stay in the positive zone.

CoinMarketCap data shows that the price of XRP is recovering from $0.56 and heading towards the $0.6 target. Trading at $0.58, up 1.86 percent in the last 24 hours, XRP instilled confidence among investors and improved market sentiment.

Increase in Open Interest and Derivatives Market

Coinglass data indicates an increase in XRP's open interest and derivative volume. These two indicators show that trading activity for the altcoin and investment inflows in the derivatives market are increasing.$XRP $BTC