XRP
XRP Market Capitalization Increases by Over $4 Billion Following Derivatives Squeeze
XRP's market valuation expanded to nearly $86 billion within 24 hours as rising spot activity and short liquidations fueled a broader market rebound.
XRP's market capitalization expanded by approximately $4.1 billion on Wednesday, October 21, lifting its total valuation to around $85.7 billion. The token posted a 24-hour gain of more than 5% after rebounding from a support level near $1.29.
The price movement occurred alongside heightened trading volumes across both spot and derivatives venues. According to CoinMarketCap data, 24-hour spot trading volume rose 34.65% to $1.94 billion, while derivatives trading volume increased 21.27% to $13.79 billion.
Open interest in XRP derivatives grew nearly 6% to $6.94 billion. The influx of trading activity and upward price pressure triggered liquidations of short positions, resulting in a short squeeze that further accelerated gains during the European and early New York trading sessions.
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