As XRP’s price remains stable, signs of an imminent rise are emerging. Indicators such as increasing open interest and whale accumulation may point to an upcoming breakout.
Increasing Open Interest
XRP's open interest has surged from $3.5 billion to nearly $5 billion in less than two weeks. Anticipation surrounds CEO Brad Garlinghouse's upcoming testimony before the U.S. Senate, which could influence XRP's price if positive news is delivered.
Speculations Around XRP ETF
In light of recent regulatory wins for Ripple, interest in a potential XRP Exchange-Traded Fund (ETF) is growing. Predictions suggest a 90% chance of approval by 2025, heightening the possibility of further price increases.
Whale Accumulation
Large investors are actively accumulating XRP. Wallets holding between 100 million and 1 billion XRP have increased their holdings by nearly 1 billion coins recently. Smaller whales have also bought an additional 30 million coins over the past two weeks.
Given the current state of XRP and the rising interest from large investors, alongside potential positive news from regulatory bodies, it can be inferred that XRP may breach key resistance levels in the near future.
