Investors are paying close attention as short-term trading volume in the derivatives market for cryptocurrency XRP surges.
According to CoinGlass data, XRP futures trading volume on the BitMEX exchange has increased approximately 3,948% over the past 24 hours compared to the previous day. While liquidations expanded amidst the overall cryptocurrency market correction earlier this week, XRP open interest has increased slightly over the same period, indicating a sustained level of market participation.
According to Glassnode analysis, the $2 level remains a key psychological resistance level in XRP's price action. Since early 2025, every time XRP approached this level, significant realized losses were incurred. On January 21, XRP attempted a short-term rebound, but its gains were limited by the $1.98 level, failing to break above $2.
In the current market, price volatility continues as short-term buying pressure clashes with selling pressure from existing holders seeking to recover to the break-even point. Some market analysts cite a breakout above $2 as a key area that could influence short-term price movements. At the lower end, the mid-to-high $1.80 range is cited as a potential short-term support area.
Meanwhile, a proposed amendment to permissioned domains is reportedly under discussion on the XRP Ledger (XRPL) network, following a validator vote. If the proposal maintains a certain level of support, it could lead to a future network update, but a specific activation date has not been confirmed.
