In the past 24 hours, Ripple (XRP) $XRP has booked gains of more than 6% as open interest (OI) for its futures contracts has hit $10 billion, favoring a bullish XRP price prediction.

Data from CoinGlass confirms that traders have been rushing to open long positions on XRP as OI has been steadily increasing since the beginning of July, moving from around $2.5 billion to their current level for a 300% increase in less than a month.

Open interest for traditional futures has also jumped to 2,650 contracts worth $459 million, marking a new record for the CME Group’s recently launched XRP futures.

The launch of an XRP-linked exchange-traded fund (ETF) this week alongside the passing of the Genius Act by the House of Representatives have catalyzed this explosive move.

As a result, XRP has now delivered year-to-date gains of 67%, making it the best-performing token of the top 5.

XRP Price Prediction: On Track to Hit $4 After Local High Breakout

XRP is now just 10.1% away from making a new all-time high. The weekend’s price action may close the deal if bullish momentum continues to gain traction.

Yesterday, the price broke through its January 16 high of $3.40. This is the highest level that XRP has reached in years and the closest it has been since January 2018 to retesting its all-time high.

This is a historical moment for Ripple. A set of legal victories has given its native asset a dramatic boost since October this year. Now, with a pro-crypto leadership team at the United States Securities and Exchange Commission (SEC), the sky is the limit.

The price seems to be retesting the $3.4 resistance from above. If it stays above this mark, the odds favor a bullish XRP price prediction of $4. This level could be hit during the weekend.

The Relative Strength Index (RSI) is as stretched as it can get as it has reached 88 in the daily chart. This is an extreme overbought level that could anticipate a strong pullback. However, positive momentum still favors a bullish XRP price prediction of $4 and possibly beyond.

As the price of some altcoins like XRP seems poised to reach a new all-time high, a high-speed game called CoinPoker Crypto Futures has emerged to give users the chance to profit from the rally without the need for a wallet or understanding the complexities of real futures trading.

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