XRP Surges Amid Legislative Anticipation and Market Dynamics
- XRP rose from $1.337 on Sept. 13 to a peak of $1.49 on Sept. 14, marking a 9.8% increase.
- Open interest in Binance‘s XRP perpetual futures increased from 292.1 million to a high of 313.7 million XRP.
- South Korean exchange Upbit reported approximately $8 billion in weekly volume, with XRP leading as the most traded asset.
- The Senate vote on the CLARITY Act is scheduled for Sept. 15, while the Federal Reserve’s rate decision follows on Sept.16.
- XRP ETFs absorbed $18.98 million during the week of Sept.8-11, with cumulative inflows surpassing $1.70 billion.
XRP’s price surge coincided with increased legislative activity and market interest, particularly within derivatives trading platforms like Binance, where open interest spiked significantly over two days.
Despite this momentum, prediction markets remain cautious about legislative outcomes, as reflected by Polymarket’s declining odds for the CLARITY Act passing.Source
