XRP Back To $2.48 As Trader Signals 'Rebound About To Begin'

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.

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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