#MarketRebound has experienced a notable increase in its value, rising 25% since April 7, after a yearly low of $1.61. This increase coincides with a broader recovery in the cryptocurrency market and a significant rise in XRP open interest, which jumped 32% from $3.14 billion to $4.13 billion between April 21 and April 23. This increase in futures open interest suggests a bullish sentiment among derivatives traders. However, Velo's data indicates a contrasting outlook, as the negative aggregate premium on open interest shows that the XRP futures market continues to bid against a price increase. The funding rate remains near zero, reflecting a neutral stance among bullish and bearish traders.

The cumulative delta of the aggregated spot tape turned positive in April, indicating increased buying pressure as buy trades in the market outnumbered sell trades across various exchanges. Despite the growing interest in futures, XRP's price appears to be caught in a struggle between bullish spot market activity and bearish perpetual futures. Analysts maintain double-digit price targets for XRP, with Sistine Research, a cryptocurrency investment community, forecasting a long-term target between $33 and $50. This prediction is based on a higher time frame symmetrical triangle pattern reminiscent of the 2017 rally, which saw a 2,600% increase. Sistine Research suggests that optimistic targets could push prices as high as $77-$100.