$XRP Bulls Eye Record-Breaking Rally as Futures Open Interest Hits $8.5B

XRP is holding above $3.00, but the $3.40 resistance remains a key hurdle for further gains. Speculative demand is on the rise, with XRP futures Open Interest (OI) surpassing $8.5 billion, signaling strong bullish sentiment in the short term.

On Monday, XRP consolidated above the $3.00 support level. While its technical structure remains favorable, profit-taking has slowed momentum. This follows last week’s surge in Bitcoin (BTC) and Ethereum (ETH), which has slightly cooled broader market sentiment.

Adding to the bullish backdrop, Ripple and the U.S. Securities and Exchange Commission (SEC) jointly filed to dismiss appeals — potentially ending their five-year legal battle. Ripple will pay $50 million in settlement costs from its $125 million escrow fund.

Derivatives Data Signals Strength

XRP’s OI averaged $8.5 billion on Monday, a 17% increase from $7.05 billion on August 3, according to CoinGlass. At the same time, weighted financing rates for futures climbed from 0.0004% to 0.0108%, indicating more traders are taking leveraged long positions.

Trading volume also rose to $12.64 billion, further confirming market growth. If bullish momentum continues in the futures market, XRP could challenge its July 18 record high of $3.66.

Technical Outlook

XRP is currently trading between $3.00 and $3.40. The Money Flow Index (MFI) has rebounded above 40, suggesting renewed capital inflows. Support from the rising 50-day, 100-day, and 200-day EMAs — at $2.88, $2.66, and $2.39 respectively — could cushion any pullback.

If XRP holds above $3.00 and breaks $3.40, the path could open toward new all-time highs. A drop below $3.00 may see buyers stepping in at these EMA levels to prevent a deeper decline.