XRP’s Soaring Open Interest Signals Trader Optimism Amid Potential Price Surge

In the ever-volatile world of cryptocurrencies, XRP has recently captured the market’s attention with a surge in open interest, hinting at a potential price breakout. With analysts offering varied predictions, traders are betting big on the altcoin’s future.

XRP Open Interest Surges, Traders Bet Big

XRP’s open interest has soared to $3.61 billion, indicating renewed trader confidence and potential bullish breakout. Analysts predict the altcoin could reach between $2.60 and $17.50, depending on key resistance levels and chart patterns. However, risks remain high, with a possible 70% downside risk if support fails. The surge in open interest, a metric used to determine the value of outstanding futures contracts, has brought new attention to Ripple’s native cryptocurrency.

Ripple (XRP) Price Prediction: Which Will Come First for XRP Price — $0.50 or $5, and Why?

Fresh regulatory changes alongside macroeconomic movements place XRP and its status at the center of Ripple’s market attention. XRP previously exhibited potential to rule global payments, yet it trades between $5 and $0.50 in restricted price ranges as investors execute a down-or-upward trajectory prediction. The 2024 legal victory between Ripple and the SEC in court brought definitive clarity regarding the non-security status of XRP. Additionally, Remittix (RTX) token stands out among utility tokens due to its practical operative needs, raising speculation about XRP’s market leadership in cross-border transactions.

Analysts Predict XRP Price Surge, But With Caution

XRP price has been attracting attention with analysts presenting bold projections. Some forecast a sharp rally despite market headwinds. The altcoin’s price has shown strength in recent months, yet technical resistance levels still limit upward momentum. While bullish structures are forming, broader sentiment and on-chain activity remain mixed. Javon Marks, a technical analyst, anticipates XRP’s price could increase significantly by repeating past trading patterns, with a pennant breakout pattern similar to 2017 being noted.

Can RLUSD Volume and Retail Demand Help XRP Price Stay Above $2?

XRP price reached $2.12 but started declining, indicating a possible consolidation phase above the $2.09 support zone. The price returned multiple times to the $2.01–$2.05 zone, confirming it as the main support. A 30% gain to $2.60 could occur if XRP stays above $2.00. The four-hour chart showed XRP trading between $2.00 and $2.60, with $2.30 emerging as a probable midpoint support. If the price crosses above $2.30, it could climb towards $2.60 despite bearish conditions.