XRP Breaks Through the $2 Mark, Can Buyers Push XRP to Continue Rising?

XRP's price recently plummeted by 15%, quickly rebounding after falling below the $2 mark. With Trump suspending additional tariffs and expectations for slowing inflation data (CPI, PPI), the market is recovering, and altcoins, especially XRP, are experiencing a strong rebound.

Market Trends: Surge in XRP Open Interest: According to Coinglass data, XRP's open interest has surged, with liquidation amounts reaching $5.21 million in the past 24 hours, including $1.59 million in long positions and $3.60 million in short positions, indicating strong market momentum.

Massive XRP Transfer: Ripple transferred 200 million XRP (approximately $403 million) to an unknown wallet, sparking significant market attention. Does this mean Ripple is preparing for major moves? Analysts speculate it could be related to regulatory developments or large private placements.

XRP ETF Boosts Market Confidence: With the launch of the XRP ETF, trading volume and open interest have surged, with open interest increasing by nearly 5%, currently exceeding $3.1 billion, further enhancing investor confidence and the number of active wallets.

Future Trends for XRP:

Breaking Key Resistance Level: **XRP's current price is $2.04, facing key resistance at the 100-day moving average ($2.10). If it breaks through, it may drive the price further up to $2.60.

Downward Support Level: **If it falls below the $1.73 support level, it may retrace back to $1.30. However, current market buying pressure is strong.