XRP breaks above key bull flag resistance with momentum supported by rising RSI and positive ADX movement.
Daily active addresses for XRP increase by 50% in 48 hours, showing strong investor participation.
XRP open interest surpasses $10 billion as traders enter long positions, reinforcing bullish sentiment.
XRP experienced a modest decline over the weekend, dropping from $3.53 to $3.45 by July 19. The broader cryptocurrency market has shown similar weakness as traders locked in profits following recent gains. Despite this short-term correction, XRP has maintained a bullish technical structure that could signal a stronger rally ahead.
The breakout above the bull flag resistance has gained traction among retail traders. According to recent price chart analysis, the pattern's height supports a projection of over 480 percent growth in the coming months, potentially pushing XRP near the $17 mark. The Average Directional Index (ADX), which had been declining, has shifted course and now points upward. This change signals renewed strength in price momentum.
Rising RSI Confirms Continued Buying Pressure
The Relative Strength Index (RSI) currently stands at 69, indicating a continuation of buying interest over selling activity. The RSI level remains below the overbought threshold, leaving room for further price appreciation. This supports the current bullish trajectory that has emerged despite weekend selling pressure.
Santiment data shows a notable increase in XRP's daily active addresses, rising from 58,000 to 88,000 within 48 hours. This uptick in user activity indicates rising demand and growing investor interest. A surge of this magnitude often translates into buying pressure that can drive prices higher over the short term.
XRP Open Interest Climbs to $10 Billion
Alongside increased network activity, XRP’s open interest has crossed the $10 billion mark, according to data from Coinglass. A simultaneous rise in funding rates points to new long positions, as traders continue to speculate on XRP’s upward potential. This increase in open interest reflects strengthening confidence in the asset's performance.
Anticipation surrounding upcoming regulatory developments, particularly the GENIUS Act in the United States, is also contributing to market optimism. If passed, the expected regulatory clarity may further support XRP’s bullish case and attract new investor interest shortly.
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