According to ChainCatcher, Nexo analyst Iliya Kalchev said that the surge in XRP open interest shows its increased importance in the crypto space, reflecting an expanded investor base and increased trading activity.
Cryptoquant reports that XRP open interest grew by more than 30% to $4 billion. Analyst Maarten Regterschot warns that the growth may be driven by leverage, increasing volatility risk.
Kalchev believes that this growth is related to favorable regulatory developments and a rebound in the crypto market.
