XRP Soars Past $1.50 as Derivatives Activity Surges

Ripple's XRP token has been on a tear, reaching near $1.50 and showing no signs of slowing down. The remittance token has maintained its bullish stance for four consecutive days, with momentum indicators reinforcing a positive market structure.

The derivatives market is also gaining strength, with perpetual futures Open Interest (OI) reaching 2.3 billion XRP on Monday, up from 2.2 billion the previous day. This increase in OI suggests that traders are becoming more confident in XRP's prospects.

Despite mild outflows totaling $44,000 last Friday and roughly $5 million the day before from US-listed XRP spot Exchange-Traded Funds (ETFs), cumulative inflows remain positive at $1.71 billion. This indicates long-term investor interest in XRP.