XRP's price has increased by 4% in the past 24 hours, reaching $2.43, alongside a 25% rise in open interest (OI), now totaling $4.95 billion. This surge indicates heightened activity in the derivatives market and a possible return of investor optimism. The current positive funding rate for XRP futures suggests growing bullish sentiment. A strong bull flag pattern has emerged on the weekly chart, potentially signaling a rally to as high as $14 if confirmed. Significant past increases in OI have often preceded major price increases for XRP, making the current situation noteworthy. Enhancing this bullish outlook are supportive moving averages and bullish technical indicators, indicating that XRP's price could continue its upward trajectory. Analysts highlight the need for a weekly candlestick close above $2.48 to spur further rallies, with the all-time high VWAP at $2.47 acting as a crucial resistance level. If XRP aligns with historical trends, the price might reach double digits by 2025.

Source 🔗