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XRP Futures Volume Soars to $3.96 Billion as Altcoin Eyes Major Breakout
- XRP futures trading volume surged to $3.96 billion in 24 hours, indicating increased trader interest.
- Open interest rose by 5%, adding $550 million in new positions, with Binance leading in volume at $1.21 billion.
- XRP is eyeing the $2.14 breakout level, with optimistic forecasts aiming for $27 by 2026.
- XRP's recent strong performance has attracted traders' attention across the crypto market.
- The interest in XRP is focused on a key resistance level at $2.14, driving trading activity in the derivatives market.
- The surge led to a positive funding rate, indicating heightened expectations for price increases.
- XRP futures open interest increased by 5%, attracting $550 million in new futures positions.
- Binance processed 30.58% of XRP futures volume, totaling $1.21 billion, followed by Bybit and OKX.
- Ripple's global expansion and expected regulatory clarity in the U.S. are bolstering positive sentiment around XRP.
- Analysts see potential for XRP to reach $27 by 2026, citing technical and fundamental factors driving the rally.
- Egrag Crypto predicts a historic breakout for XRP based on a repeating fractal pattern, similar to its 2017 rally.
- XRP is targeting the $2.14 breakout level after the significant surge in futures volume, indicating growing market interest.
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