The market bounces back after Trump has paused plans to increase rates, and recent inflation data (CPI and PPI) showed signs of delay. That is why Altcoins retain strong and XRP wants to make a big movement beyond $ 2. With various indicators that show growth, buyers seem to have control and encourage to send the price of XRP even higher.
XRPs open interest rises in the midst of rising demand
XRP buyers become hopeful for a strong price rally when the economy starts to cool down. According to data from Coinglass, XRP saw $ 5.21 million in liquidations for the past 24 hours. From that came $ 1.59 million of long positions that were closed and was $ 3.6 million from sellers who left their positions.
Moreover, there was a large XRP transaction today. Ripple has moved 200 million XRP – WORTH about $ 402.78 million – to an unknown wallet. The transfer was followed by whaling warning, which shows that it came from Ripple’s wallet “RBG2F … 1O91M” and went to “RP4X2 … SKXV3”.
Also read: XRP price forecast 2025, 2026-2030: Is $ 3 now out of reach?
Some people think that Ripple may be preparing for something big, possibly with regulatory movements or large private transactions (OTC -Deals). Others think it could just be to reorganize their internal portfolios. Ripple has not said anything publicly about it yet.
This transfer also happened immediately after Ripple and the American SEC asked the court to pause their legal battle, which could be a sign that they are trying to achieve a smoother resolution now that the most important parts of the case have been tackled.
On the other hand, the launch of the XRP ETF has caused a big leap in the trade volume of XRP and open interest. The data shows that open interest (OI) in XRP has risen by almost 5%, now a total of more than $ 3.1 billion. This launch has increased confidence among investors and there has been a noticeable increase in the number of active portfolios.
What is the next step for XRP price?
XRP climbed back above the level of $ 2, but it is now resisting the 100-day EMA, which is around $ 2.1. However, buyers can soon overcome this level as buying pressure peaks. From writing, XRP price acts at $ 2.04 and 4% rises in the last 24 hours.
If the price falls from the EMA100 level, sellers can try to push the XRP/USDT pair to the key support for $ 1.73. Buyers will probably defend that area strongly, because if it breaks, the price could fall further to around $ 1.3.
On the other hand, if XRP succeeds in breaking above the 100-day EMA and holding above the falling resistance line, this would indicate that buyers are preparing for further profit. In that case, the price can be on its way to the resistance line at $ 2.6, where sellers will probably intervene again.
At the moment, the long/short ratio for XRP is 1.2, which means that more traders bet the price will rise. About 52% of the positions are long, which shows that the general sentiment bullish leans.