Ripple Investors Pay Attention to This Data: Price Indicator Reaches Record Level! - Coin Bulletin

Data that guides the price of Ripple (XRP) is closely monitored by analysts.

According to data shared by CryptoQuant analyst 'maartunn', XRP's Open Interest (OI) reached a record high of $1.8 billion, the highest level ever.

When this OI data increased during the recent period, an increase was also seen in the price. Conversely, a decrease in OI tends to result in a decrease in price.

Currently, there are several notable factors behind the ongoing increase. Here are the main factors that triggered this rise:

1. Gary Gensler's Resignation: SEC Chairman Gary Gensler's announcement that he will step down in 2025 created a more positive regulatory environment expectation for cryptocurrencies, especially XRP. This news has created an optimistic atmosphere among investors.
2. Political Changes: Donald Trump's recent election victory has created a positive perception in the crypto markets. The expectation of more crypto-friendly regulations coming into effect has increased interest in XRP.
3. Speculations on XRP ETF: The applications by asset managers for XRP ETF had a significant impact on the market. Gensler's planned departure strengthened the hopes that these applications could be approved and attracted the interest of institutional investors to XRP.

The analyst emphasized that changes in both the political and regulatory fronts could be decisive for the future of XRP. The price performance and investor interest in XRP could further increase with the influence of these dynamics.

Tokenized market fund from Ripple

Ripple announced the launch of a tokenized money market fund on the XRP Ledger. The innovation was reported to be realized through a collaboration between Ripple and digital asset exchange Archax.

Ripple's press release included the following statement: "Archax, the first digital asset exchange, broker, and custodian regulated by the FCA, provided access to a money market fund of the UK-based asset manager abrdn in tokenized form via the XRP Ledger.

The statement stated that the fund in question is part of abrdn's total $3.8 billion US dollar Liquidity Fund (Lux) and is recorded as the first tokenized currency market fund on the XRP Ledger.