Analysis: $XRP price eyes 40% rally to $3.20

According to Cointelegraph's analysis, XRP rose 7.2% to $2.31 on June 3, fueled by Ripple’s banking license application, Grayscale's spot ETF approval and rising institutional interest. Open interest in XRP surged 11% in 24 hours, signaling increased institutional involvement. Analysts predict XRP could rally to $3.20, a 40% increase, after breaking out of a bullish pennant pattern. Historically, such surges in open interest often precede price increases.