XRP Dances Sideways While Futures Open Interest Surges to Multi-Month High
2025-07-08 19:14:41
Main Idea
XRP is showing signs of a potential major price movement, supported by technical patterns, regulatory developments, and increasing futures open interest.
Key Points
1. XRP is forming a symmetrical triangle pattern, indicating growing pressure for a significant price breakout.
2. The cryptocurrency is trading between key moving averages (50-day MA at $2.22 and 200-day MA at $2.36), with RSI showing no extreme overbought or oversold conditions.
3. A favorable outcome in the Ripple vs. SEC case could lead to XRP's relisting on U.S. exchanges, boosting its price.
4. XRP's futures open interest has surged, reaching 743 million XRP, a 33% increase from late June lows, signaling fresh capital inflow.
5. Technical analysts predict a potential breakout targeting the $3.20–$3.40 range, with a 40% upside potential, based on a weekly bullish pennant pattern.
Description
This sideways dance has been going on since the start of 2025 with a wait-and-see approach taking center stage. XRP’s Bullish Symmetrical Triangle Plays Out According to Vlad Hryniv, XRP is coiling within a large symmetrical triangle, signaling growing pressure for a major move. With $2 serving as strong structural support, the setup favors a bullish breakout once consolidation tightens. The market analyst added , “XRP’s caught between the 50-day MA ($2.22) and 200-day MA resistance ($2.36). Bul...
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