The price of the XRP token showed significant growth over the past week, indicating the accumulation of positive momentum in the market.
Current XRP Price and Recent Increase
XRP price gained 12.87% over the past week and is currently trading at $3.33. This increase coincides with a strong bullish engulfing candle on the weekly chart. The current price is near a critical resistance zone.
Technical Indicators and Main Direction
Derivatives data indicates a 195.75% increase in trading volume, reaching $18.22 billion. Open interest climbed 20.46% to $8.79 billion, while options volume surged 1361.14%. These indicators confirm a strong bullish trend. The Relative Strength Index moved to 64.15, indicating ongoing growth.
Institutional Interests and ETFs
The formal end of the legal battle between Ripple and the SEC has prompted renewed interest in exchange-traded funds based on this asset. While companies such as Bitwise and Grayscale have submitted applications, there remains uncertainty regarding a potential ETF from BlackRock.
The XRP price demonstrated healthy dynamics, and continued support above $3.20 will be crucial for maintaining the bullish structure, especially in light of increasing institutional interest.
