XRP has reached a six-month high as the notional open interest for its perpetual futures hit a record $8.8 billion. The cryptocurrency, linked to Ripple, was trading around $3.05, reflecting a 5.1% increase over the previous day and a surge of 420% in the last year. The significant rise in open interest indicates heightened market participation, surpassing the previous peak of $8.3 billion recorded in late January. Major centralized exchanges, such as Bitget and Binance, are experiencing concentrated open interest in XRP, with positive funding rates across trading venues signifying bullish sentiment among traders. Analysts suggest that retail awareness and compliance features of XRP may drive further adoption, especially with potential regulatory support. Overall, the analysis indicates a growing confidence in XRP's market performance amid increasing investor interest in the crypto space.

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