🚀 XRP Futures Explode to $542M on CME—$2.65 Price Target in Sight as Breakout Looms

Wall Street’s latest crypto crush just hit the gas. XRP futures open interest on CME rocketed to $542 million—and the charts are screaming breakout.

The Target:
$2.65. That’s the magic number traders are watching as the token flirts with a parabolic move. Not bad for an asset the SEC tried to bury two years ago.

Behind the surge:
Institutions are piling in, bypassing regulatory FUD like it’s 2023 all over again. Meanwhile, retail’s still trying to figure out if this is a ‘buy the rumor, sell the news’ play—or if the suits finally got something right.

*Funny how futures volume spikes* right before price fireworks. Almost like someone’s front-running… but hey, that’s ‘efficient markets’ for you.

The CME platform, which was previously associated with governed Bitcoin and ethereum futures, has further augmented its roster with XRP, which has elicited participation from trading desks and hedge funds looking at gaining exposure to the coin.

XRP Rebound Looms with $2.10 Support Holding Strong

XRP is trading at $2.14, down 3% for the past 24 hours. But chart analysis from ROSE Premium Signals indicates that such might be the quiet before an ultimate bullish storm. The chart features a descending wedge formation, a formation that is universally considered an ultimate bullish reversal signal.

The trend occurs from May until August and features a bounce from a key support level at about $2.10. In the past, XRP respected this level on corrections, underscoring its significance. The resistance trendline of the descending wedge is also coming under stress, and any confirmed breakout above it can trigger a stiff bounce upwards.

The breakout points are at $2.4558 and $2.6549, which are obtained from extending the height of the wedge from the breakout point.

Volume analysis also supports the trend: diminishing volume on consolidation and a surge on bounce are signs of simmering momentum. A potential retest on its proximity to the trendline presents another buying opportunity for traders to reduce false moves.

Weekly Candle Eyes First Bullish Reversal Since January

To that technical optimism, another chart posted by Cryptoinsightuk offers an even longer perspective. The candlestick configuration on the weekly time frame shows a possible bullish engulfing candle, which WOULD be the culmination of a months-long period of consolidation.

The chart spans from mid-2024 through mid-2025. It focuses on a critical juncture: if XRP closes above current levels, it will create the first bullish engulfing pattern on a higher low since its January peak.

The supporting indicators indicate the RSI trading at 53.24, ready for a bullish cross. The Stochastic RSI also gradually moves out of oversold territory, signaling momentum to return.

The potential breakout to clear resistance is only 8%, but Cryptoinsightuk says the follow-up can be much more aggressive if the breakout is confirmed over the next few days.