👀 XRP Futures Open Interest Surge
What Will Happen to the Price?
XRP continues to recover, but what does the sharp spike in futures open interest mean for the price? Are we about to see a bullish breakout or is this just a temporary spike before a further decline?
➡️ Key Takeaways:
🟡 XRP price has risen 25% since April 7, reaching $2.15
🟡 Futures open interest increased 32%, from $3.14 billion to $4.13 billion
🟡 Spot market activity remains positive, but futures interest rates are neutral, indicating uncertainty among traders
💥 Is XRP Heading to Double Digits?
Analysts are still targeting ambitious price points for XRP, with some predicting it could reach $33-$50 in the long term — even $77-$100 in the most optimistic scenario.
However, while the spot market price action appears bullish, the futures market remains caught in a tug-of-war between bulls and bears, making it an ambiguous market for traders.
📊 Technical Analysis.
XRP has formed a symmetrical triangle pattern, which could lead to a 70% surge towards $3.55. However, despite the strong recovery, some analysts are suggesting that we may see a pullback around the $2.50-$2.67 resistance level.
