In the last 24 hours, XRP's price has fallen from $2.22 to $2.10, illustrating its high volatility. However, XRP holders remain confident in the asset, as seen in the over 1 billion XRP committed to open interest.
XRP Volatility High
CoinGlass data reveals that the amount of open XRP futures positions stands at 1.74 billion XRP, equivalent to $3.65 billion at current market value. This indicates market activity still encourages investors to commit funds to the asset.
Analyst Predictions for XRP
Veteran traders have made various predictions regarding XRP's future price. Peter Brandt hinted that a 'head-and-shoulders' pattern could drop the coin to $1.07 if it breaches the $1.90 support level. However, Dark Defender predicts a breakout that could hit $10–$11, while Ali Martinez suggests that if XRP rises above $3, it could reverse the 'head-and-shoulders' pattern and market outlook.
Will XRP Rise Before April?
XRP has lost 5.69% of its value and is trading at $2.09 as of this writing. However, the trading volume remains on the rise, up by 16.23% to $4.12 billion. Market participants continue to anticipate an upward price shift as March comes to a close.
Investors continue to watch XRP's situation closely, awaiting a potential price breakout. Only time will tell if their expectations will be met.
