Despite some rejection appearing on the 4-hour chart, I want to highlight a notable surge in open interest on the spot market for \$XRP
— even greater than what we saw before yesterday’s sharp price jump. Positions are being built right below a key zone.
Even minor dips in price are being met with rising volume and increased spot positions, indicating strong accumulation.
In my view, the bear market scenario might need to be put on hold for now.
What could the bigger players be aiming for? Likely a new all-time high.
A critical level to watch is \$3.04 — this marks both the close of the bullish January candle and the order block from February's downward move.
We’ll continue tracking this closely.