XRP Surges Past $1.10 as Open Interest Hits Record High

XRP surged above $1.10 in Thursday's trading session, as open interest in perpetual XRP contracts reached 2.14 billion.

The cryptocurrency saw a 1.8% rise, reaching an intraday high of $1.1065 and a low of $1.0827 before consolidating between $1.1020 and $1.1040.

Trading volume spiked to 43.51 million XRP, an increase of roughly 88% compared to the 24-hour average, with 14.17 million XRP changing hands in the following hour as the price moved from $1.0958 to $1.1052.

Analyst Celal Küçüker reminded investors that XRP posted gains of over 500% in just one month two years ago, arguing that hitting $7 by year-end should not be ruled out prematurely, reflecting the growing optimism among retail investors.