These important metrics are also increasing

Ripple’s price has risen more than 4.5% in the past 24 hours, pushing its total weekly gains above 6%.

While the cryptocurrency’s valuation is experiencing a notable increase, other important metrics are also moving forward.

XRP Price Outlook

The entire cryptocurrency market has seen a remarkable rally in the past 24 hours, with Bitcoin trying to break above $61,000.

This has also strengthened XRP’s price outlook, providing a sizeable increase of over 4.5% at the time of writing. The altcoin is trading above $0.6.

Some analysts have made very positive Ripple price predictions. User X, who goes by the handle CRYPTOWZRD, recently argued that the price of XRP is very bullish, while Crypto Rover, on the other hand, argued that it is preparing for a major breakout.

While price is moving forward, so are other important market metrics.

Interesting market dynamics at play for Ripple

Adding more substance to the move and perhaps attesting to a bigger near-term rally, XRP’s daily trading volume soared more than 60%.

Source: Coinglass

Open interest, which sums up the total number of open positions in XRP trading contracts, is also up 13%. This is usually a precursor to volatility.

Interestingly, XRP options volume also soared by 150%, while options open interest is up nearly 90%.

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