XRP Price Surges 39% as Derivatives Traders Take Center Stage

XRP has seen a notable price increase of 39% since August 18, reaching $1.396 on August 29.

The token's recent surge in value appears to be driven by derivatives activity rather than exchange supply movement, according to recent on-chain data.

Funding rates for XRP averaged 0.006 over the recent stretch, well above the quarterly baseline, while the estimated leverage ratio climbed to 0.193, close to the six-month maximum of 0.213.

The combination of high funding rates and leverage ratios suggests that derivatives traders are powering the recent repricing, rather than spot sellers.