Expert "The Cause of Ripple Surge, Outstanding Agreements Surge"

Futures Market XRP Open Interest, Approximately $4 billion

On Dec. 2, an analysis was raised that the cause of the surge in Ripple(XRP) was an outstanding agreement that has been rapidly driven to the futures market.

Maarten Regterschot, a researcher at CryptoQuant, pointed to the Ripple's price volatility on Dec. 1, pointing to the XRP's outstanding interest rate in the futures market.

"XRP's open interest in the futures market is expected to rise by about 37%, and it is expected to be highly volatile," he said. "In a similar situation as last time, XRP's price fell by 17%. Be agile and manage the crisis immediately," he warned.

In fact, according to data from the on-chain analysis platform CoinGlass, the outstanding interest deposited through major exchanges surged by about 30% on Dec. 1 to reach about $4 billion.

XRP surged 30% and reached nearly $2.5 on Dec. 2 morning, showing a frightening surge. The volatility predicted by Legterskat was a scary rise.

XRP's rise is not easily dampened. XRP's price is $2.7 based on the coin market cap at 12:56 pm on Dec. 3. XRP's market capitalization has soared at an alarming rate, currently ranking third in the overall cryptocurrency market capitalization

권승원 기자 ksw@blockstreet.co.kr