XRP leads recovery in the virtual asset market…Up more than 6%

YM Lee

Summary

Coindesk reported that XRP rose by more than 6% over 24 hours, leading the recovery in the virtual asset market.
CME XRP futures open interest surpassed $1 billion in just three months, reflecting a significant increase in institutional investor participation.
Blockchain analytics firm Santiment stated that while expectations of interest rate cuts are supporting the market, a cautious approach is still necessary.

XRP saw a sharp rebound overnight, leading the recovery in the virtual asset (cryptocurrency) market.

According to Coindesk on the 26th (local time), XRP is trading at around $3.03, having risen by more than approximately 6% over the past 24 hours. During the same period, Ethereum rose 5%, while Dogecoin increased by about 4.5%.

There was also a significant increase in CME futures open interest. The nominal open interest of CME XRP futures surpassed $1 billion in just three months. The recent expectations of interest rate cuts, along with signs of a maturing virtual asset derivatives market, have led to increased participation by institutional investors, which has positively contributed to this rapid growth.

According to blockchain analytics firm Santiment, "Optimism around interest rate cuts is supporting the market, but a cautious approach is still needed. If these expectations for easing do not materialize, the market may face a sharp correction. Investors will now be watching for Friday’s release of the Personal Consumption Expenditures (PCE) price index."

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