$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
