XRP price chart bull flag targets $4.50 by September or October.
XRP ( XRP ) has risen by over 10% since Thursday, when Ripple and the US Securities and Exchange Commission (SEC) agreed to dismiss their legal appeals against one another.
XRP/USD daily price chart. Source: TradingView
XRP futures volume surpasses Solana
XRP futures trading volume spiked over 200% in the past 24 hours to $12.4 billion, overtaking Solana’s $9.6 billion, according to onchain data resource Glassnode .
XRP vs other cryptocurrencies’ futures data as of Friday. Source: Glassnode
Rising futures volume often reflects heightened trader interest and speculative positioning, especially after major news events. In XRP’s case, it’s the end of the long-running SEC vs Ripple lawsuit .
Open interest , which shows the value of unsettled futures contracts, also climbed 15% to about $5 billion.
XRP open interest chart. Source: Glassnode
At 0.01%, XRP’s positive daily funding rate suggested that most traders were taking long positions, anticipating further upside.
XRP futures perpetual funding rate. Source: Glassnode
Heavy long positioning can also increase downside risk, Glassnode warned. That suggested overleveraged traders could face liquidations, potentially accelerating a correction, if the price turned lower from current levels.
XRP’s cost basis distribution data shows that the $2.80–$2.82 range holds the largest cluster of supply, with over 1.70 billion tokens acquired at those prices.
XRP cost basis distribution heatmap. Source: Glassnode
This concentration of holders could act as a key support level if prices pull back, as many traders in profit may defend their entries.
XRP price technicals hint at 35% gains ahead
XRP’s rise further caused its price to break above the upper trendline of a bull flag chart pattern. Its volumes rose alongside, confirming momentum behind the breakout.
XRP/USD daily price chart. Source: TradingView
Traditional analysts measure a bull flag’s upside target by adding the height of the previous uptrend to the breakout point.
For XRP, this points to a target above $4.50, about 35% higher than current levels, by September or October.
A potential Federal Reserve rate cut in September could further fuel appetite for riskier assets like XRP.
Target rate probabilities for the September Fed meeting. Source: CME
The $4.50 target echoed multiple analysts in recent weeks.
That included Mikybull Crypto, who predicted the XRP price would climb to $5-$8 by 2025’s end, and Dom, who projected $10.