XRP Signals Bullish Momentum as Open Interest Climbs

XRP continues to show bullish potential as open interest in the asset remains strong, reflecting renewed investor optimism in the digital asset’s future trajectory. With traders increasingly committing to XRP, current market trends support a possible push toward higher valuation.

Over the past week, XRP has gained upward momentum, climbing 8.6% in value amid a broader upswing across the crypto sector. The backdrop to this rally includes encouraging developments regarding Ripple’s ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC), further fueling confidence in XRP’s growth prospects.

Open Interest Highlights Investor Confidence

According to recent data from CoinGlass, XRP’s open interest surged by 5% in the past 24 hours. This metric, which reflects the total value of outstanding futures contracts, reached an impressive 1.99 billion XRP tokens, equivalent to approximately $4.74 billion. Such figures underscore the high expectations investors are placing on XRP’s near-term movement.

Delving deeper into exchange-specific activity, Bitget emerged as the leading platform in terms of XRP open interest, accounting for 564.63 million tokens, or roughly 28.27% of total contracts. That amounted to $1.34 billion in fiat value. Following behind, Gate.io recorded 325.34 million XRP staked in futures, valued at $774.51 million.

The trend continued with Binance and Bybit, which registered 321.97 million XRP and 318.64 million XRP in open interest, respectively—valued at $766.55 million and $758.91 million. This diversification across major exchanges illustrates a widespread belief in XRP’s short-term direction and stability.

XRP Trading Activity and Market Outlook

At the time of writing, XRP is trading at $2.39, marking a modest 0.16% daily gain. Despite encountering resistance near the $2.42 level—shortly before reaching the anticipated $2.50 mark—the asset remains on a positive path. Analysts attribute this resistance to a notable decrease in daily trading volume, which has declined by 37.5% to $4.27 billion.

Still, a renewed increase in trading volume could provide the market boost needed to test the $3 benchmark. Recent volume spikes have historically preceded bullish breakouts, suggesting that increased market engagement may quickly reignite momentum.

Legal Developments and ETF Speculation Provide Additional Catalysts

Investor sentiment continues to improve as Ripple and the SEC appear to be progressing toward a potential settlement in their protracted legal battle. This development, nearly five years in the making, could substantially reduce regulatory uncertainty surrounding XRP and help attract new investors.

Adding to this momentum is speculation that major asset manager BlackRock may soon submit a filing for a dedicated XRP exchange-traded fund (ETF). While nothing has been confirmed, reports have indicated that BlackRock representatives recently met with the SEC—fueling speculation about such a product’s potential introduction and its implications for institutional adoption of XRP.

Related: Expert Advice: Sell XRP If You’re Confused

Overall, the combination of increasing open interest, consistent pricing behavior, and favorable legal and institutional signals continues to position XRP as a strong contender in the crypto landscape. If volume and sentiment maintain their current course, XRP could well be on its way to testing and possibly surpassing the $3 level in the near future.