After a significant 10.77% increase, XRP's price has reached $3.26, only 15.15% away from its all-time high. This change comes amid positive news and increased open interest.
Surge in Open Interest
XRP's recent price surge is supported by a notable spike in Futures Open Interest, hitting a 6-month high. This indicates increased interest from both traders and speculators.
High open interest typically suggests rising trader commitment and can amplify price volatility during strong market movements.
XRP Price Analysis
On the daily chart, XRP has decisively broken above the $3.00 resistance, validating a multi-year technical pattern. This breakout opens the way toward the next resistance level near $3.59, before facing the psychological barrier at the historical high of $3.84.
Traders should note that the RSI sits deep in the overbought territory at 86.10, reflecting extreme bullish momentum, but also suggesting a potential short-term cooldown.
Frequently Asked Questions
1. **Can XRP break its all-time high within 24 hours?** With strong volume and rising open interest, XRP has a high probability of testing its ATH soon. 2. **What level must XRP break next to reach its all-time high?** XRP must clear the interim resistance around $3.59 before challenging the ATH of $3.84. 3. **Is the XRP rally sustainable in the short term?** Yes, if it stays above the $2.88–$3.00 support and derivatives interest remains high, the rally could extend further.
Recent developments surrounding XRP show that the price has potential for further growth. The increase in open interest and confirmation of technical levels provide a foundation for a possible new record.
