XRP (CRYPTO: XRP) is showing early signs of recovery, supported by strong fundamentals like record futures volume and a Ripple-backed treasury firm planning a public listing.
| Cryptocurrency | Ticker | Price | Market Cap | 7-Day Trend |
| XRP | (CRYPTO: XRP) | $2.48 | $149.9 billion | +9.4% |
| Bitcoin | (CRYPTO: BTC) | $110,068 | $2.2 trillion | +5.6% |
| Ethereum | (CRYPTO: ETH) | $3,907.52 | $478.7 billion | +5% |
Trader Notes: Crypto chart analyst Ali Martinez flagged a buy signal on the XRP 4-hour TD Sequential, noting that a "rebound is about to begin."
Altcoin Gordon echoed a bullish outlook, highlighting momentum from the chart's right shoulder and predicting continued gains.
Statistics: CME Group announced that since its launch in May, XRP Futures have witnessed significant demand as reflected in the $26.9 billion in notional volume over 5 months. Over 567,000 contracts have been traded, equivalent to 9 billion XRP.
Community News: On Oct. 20, Ripple co-founder Chris Larsen allegedly sold 50 million XRP in an hour, the first significant sale since July. While this could weigh on short-term price action, Larsen has historically sold near market tops since 2018.
The move comes as Evernorth, a Ripple-backed treasury firm, announced plans to go public (ticker XRPN) via a SPAC merger with Armada Acquisition Corp, aiming to raise $1 billion for XRP purchases.
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