Did XRP reclaim its 4th place in the market cap ranking, surpassing BNB? Over the past few days, with trading volume surging, XRP has risen to around $1.50, so the ranking fluctuation is understandable. It seems to be trading around $1.35 now, but looking at the movement since last week, market interest is definitely increasing.

What’s even more interesting is the movement in the derivatives market. Open interest on a major centralized exchange has accumulated up to 350 million XRP. The fact that open positions are increasing despite the price dropping indicates traders are building positions expecting a rebound. This is completely opposite to the forced liquidation trend seen in January and February.

XRP has become noticeable in the surge in trading volume rankings, but this is where the real test begins. The open interest still hasn't reached the previous peak before the crash, so there’s room for leverage to increase further. As it tests the range between $1.50 and $1.60, will structural support form, or will it fail again? Currently, the market looks bullish, but it’s important to recognize that risks are also increasing.