$XRP is holding strong above \$3.00 and eyes are locked on that stubborn \$3.40 resistance. The chart is looking ripe, but the real action might be happening behind the scenes in the derivatives market.
Open Interest has just exploded past \$8.5B—an impressive 17% jump in just a week—while financing rates are climbing fast. What does that mean? More traders are betting big on \$XRP’s next move, loading up on leveraged long positions, and fueling the fire.
Volume is surging too, hitting \$12.6B, which signals this isn’t a slow grind; it's a battle unfolding. Throw in the fact that Ripple and the SEC are on the verge of wrapping up their five-year legal saga, with Ripple moving to settle \$50M from escrow, and the sentiment is clearly shifting.
Technically, is sitting above all major EMAs, with solid buying pressure ready to catch any dip toward \$2.88 or \$2.66. If the bulls can break that \$3.40 level, the path to \$3.66—and possibly beyond—is wide open.
Right now, $XRP isn’t just consolidating… it’s coiling, ready to explode. When this spring unloads, it could be a record-breaking move. Keep your eyes peeled. 🚀
