XRP Bulls Set Sights on $3 Target as Momentum Grows — Can the Rally Be Sustained?
XRP has surged more than 11.4% in four days, driven by whale buying and a decisive break above the $2.5 resistance level. The rally has turned short-term sentiment to the bulls after traders started targeting higher levels.
Resistance and Targets
Following the re-entry of the $2.55 mark, XRP now encounters immediate resistance between $2.64 and $2.77. A successful close above this zone would signal the way towards $3.1 and maybe even $3.4.
In writing, the token is probing the local swing high around $2.64. A break here may reinforce bullish pressure and initiate a further rally continuation.
Open Interest Signals Renewed Market Confidence
Up to date information showed that XRP's Open Interest (OI) plunged severely following the October 10th market crash, reaching an all-time low of around $550 million — a point not hit since May. The reset removed excessive leverage, usually a harbinger of fresh trending cycles.
Over the last 24 hours, Open Interest has bounced back to $590 million, indicating increasing confidence on the part of derivatives traders. Experts point out that consistent growth in OI coupled with robust spot buying demand could push XRP towards the $3–$4.5 range.
Buyer Dominance Returns
The taker buy/sell ratio has also reversed in favor of buyers — a situation normally seen during strong uptrends. Retracements into the $2.8–$3 zone since August have seen massive buying pressure, supporting bullish sentiment.
Outlook
Though momentum is gaining, XRP bulls should be careful. The structure higher up is still not entirely bullish, and the $2.8–$3 supply zone will probably decide if the next significant impulse propels prices higher or results in consolidation.
Should XRP hold up well above $2.55 and breach $2.77, a flight towards $3 and further could be in the making.
