Unprecedented rise in XRP! Altcoin investors are regaining confidence

XRP coin, one of the best performing altcoins in November, reached its highest level in three years with Gary Gensler's resignation. The altcoin, which reached $1.62 from $0.50 in just two weeks, grew by 197% in the last month. In the past 24 hours, the open interest of the altcoin rose unprecedentedly, reflecting investor confidence and optimism.

XRP open interest increased to 1.8 billion dollars

According to the crypto data analysis platform CryptoQuant, XRP Open Interest (Open Positions - OI) reached an all-time high of $1.8 billion, according to CryptoQuant data. An increase in Open Interest indicates that investor confidence and interest in the asset are rising in the market.

According to CryptoQuant analyst JA_Maartun, the increase in XRP open positions reaching a historic peak is a combination of political developments and market optimism. The analyst, who examines these factors one by one, explained the reasons for growth in 3 points.

XRP open interest Source: Cryptoquant.com In the first article, it mentioned the removal of the SEC chairman and the emergence of a more favorable market environment for XRP in 2025. The more favorable regulatory environment for the altcoin has raised optimism among investors.

The analyst, who addresses political changes secondly, discussed in the third point the crypto-friendly regulations under the Trump administration and indirectly the increasing possibility of approving XRP ETFs. Many asset managers have already applied for XRP ETFs, opening the way for the altcoin institutionally.

Ripple announced the tokenized money market fund

In addition to ETF developments, Ripple, in collaboration with Archax, announced a tokenized exchange-traded fund (ETF) on the XRPL blockchain. Accordingly, the company aims to have $16 trillion of tokenized assets by 2030.

"This milestone unlocks cost savings and settlement efficiency by deploying capital market infrastructure on the XRPL."

XRP technical chart ADX and RSI Source. Following the announcement made from the official Ripple X account, XRP price rose by 10% while altcoins generally fell and experienced a rapid pullback.

At the time of writing this article, the market value of the altcoin trading at 1.47 dollars reached 82 billion dollars according to CMC data. The Average Directional Index (ADX) is moving upwards on its technical chart. The Relative Strength Index (RSI) is in the overbought zone at the 85 level.

The information in the article is purely for informational purposes. It does not constitute any investment advice. Writer and kriptoparahaber.com are not responsible for your profits or losses resulting from your investments. Ultimately, investment is based on many factors such as knowledge, experience, research, and personal decisions.

Related News