Recently, XRP has shown significant growth in open interest on exchanges and positive technical signals, indicating increasing interest from institutional investors.
Factors Driving XRP Interest
According to Coinglass data, open interest in XRP has reached $10.98 billion. Key exchanges such as Bitget, Binance, Gate, and Bybit hold substantial positions.
This surge signals significant capital inflows and growing confidence among institutional investors in XRP derivatives.
Technical Analysis and Signals
The price of XRP recently reclaimed key levels, breaking through the 200-day moving average around $3.28 and hitting a new all-time high (ATH) at $3.65.
Key indicators, such as the 'golden cross' where the 20-day SMA crossed the 200-day, and MACD bullish crossover, reinforce current momentum and support derivatives activity.
Potential for Further Growth of XRP
According to market analyst Teresa, XRP is breaking out of its consolidation zone powerfully, fueled by a double cup formation with key targets at $4.05, $4.69, and $5.39.
Therefore, a close above $4.05 could trigger a rapid rally, indicating the potential start of a new bullish cycle.
It is also notable that XRP is outperforming Bitcoin by 277% year-over-year, driven by increasing institutional interest and clearer regulatory frameworks in the U.S.
If XRP maintains its momentum and closes above $4.05, it could trigger a new wave of market interest, directing it towards the higher targets of the double cup formation.
