$XRP jumps strongly and exceeds 2 dollars again… A wave of ETF funds ignites a new upward spark

XRP has regained its upward momentum after weeks of selling pressure, driven by a strong wave of interest in newly launched exchange-traded funds (ETFs) in the American market, gradually restoring confidence among traders and pushing the price above the psychological level of 2 dollars.

XRP rose by 8.2% over the past 24 hours to trade near 2.24 dollars, reclaiming the upper range of its weekly movements, while it recorded weekly gains of 4.2%. Despite the recent recovery, the currency remains down by 34% over the past month and is about 38% away from its all-time high of 3.65 dollars recorded in July.

The spot market witnessed notable activity, with trading volumes jumping to 6.24 billion dollars over 24 hours, an increase of 54.6%. The volume of futures trading also rose by 48.5% to 10.21 billion dollars, while open interest contracts increased by 14.5% to reach 4.13 billion dollars, indicating a rise in traders' exposure to the currency during the current upward wave.

This rise comes alongside the launch of seven XRP spot funds in the United States between November 13 and 25, marking the fastest expansion seen in ETF funds for a digital currency outside of Bitcoin and Ethereum.