XRP Price Surges 42%, Led by Spot Buying as Leverage Drops

XRP's price has surged by 42% in recent trading, rising from around $1.00 to $1.42. This significant gain is notable, as it indicates that the rally was driven by spot buying rather than leverage.

According to data, traders reduced their derivatives exposure by 98.5 million XRP, suggesting that the price increase was not fueled by speculative trading.

The current price remains above the August breakout level, consolidating between $1.30 and $1.49. However, strong resistance is present near $1.49, with support at $1.30 critical for further moves.

Large whale transfers and thick sell walls near $1.40 to $1.50 may cap gains unless spot demand strengthens, allowing XRP to overcome these supply barriers and maintain support levels.