🔥 XRP Poised for Lift-Off — $3 Target in Sight Amid Bullish Sentiment
Risk-on mentality is helping XRP break out of a declining channel.
Despite price volatility and geopolitical concerns, large-volume holders and institutional investors still like XRP.
XRP futures open interest remained at $3.83 billion, indicating a downturn that may hurt token interest.
On the rebound after last week's sell-off after Israel attacked Iran, raising Middle East geopolitical tensions, Ripple (XRP) is positive. XRP is at $2.28 as of Monday, up over 5%.
Bitcoin (BTC) and Ethereum (ETH) both show optimistic signs amid hopes for an Israel-Iran peace.
XRP climbs as risk appetite remains
Israel-Iran tensions are driving XRP interest despite volatility. Big XRP buyers with 1 million to 10 million XRP kept buying despite macroeconomic and geopolitical difficulties.
Santiment reports that this investment cohort has 9.9% of XRP's supply, up from 9.5% on May 1 and 8.24% on January 1.
Large volume holders' risk-on mentality matches CoinShares' weekly digital investment report, which shows $11.8 million in XRP-related financial product inflows last week.
CoinShares weekly report notes that “Regional sentiment was positive, led by the US (US$1.9bn), while altcoins like XRP (US$11.8m) and Sui (US$3.5m) also saw renewed investor interest
While the ecosystem consolidates, XRP futures Open Interest (OI) remains at $3.83 billion. The chart below shows OI moving sideways but continuing its downturn from mid-May's $5.52 billion high.
XRP jumps to $2.28 at press time. After the 200-day Exponential Moving Average (EMA) supported $2.09, prices rose.
Technical indicators like RSI and MACD indicate bullishness. The RSI's rebound above the 50 midline suggests positive momentum, which may keep XRP stable in future sessions.
MACD will likely confirm a purchase signal if the blue line crosses over the red signal line. If the signal recovers toward the mean line and green histogram bars expand, traders may see a breakout from the falling channel, as seen on the daily chart.
