XRP demonstrates positive dynamics, with a 1.7% increase over the past 24 hours and 6% over the week, creating optimistic forecasts for further growth.
Institutional Demand for XRP
Institutional interest in XRP products remains steady. According to CoinShares, inflows into XRP exchange-traded products amounted to $14.7 million over the week, accumulating to $1.4 billion since the beginning of the year.
XRP Derivatives Show Growth
XRP derivatives traders are opening new positions, indicating increased speculative interest. Open interest (OI) has risen by 11% over the week to $8.3 billion. A positive funding rate suggests that more traders are taking long positions, expecting price increases.
Price Predictions and Market Analysis for XRP
XRP seeks to overcome resistance at the $3 level. Analysts point to key levels that need to be surpassed for further growth. One of these levels is $3.12. If successfully breached, prices could reach $4.50.
With current trends and increasing institutional demand, XRP continues to attract the attention of analysts, who express optimistic predictions regarding its future value.
