XRP Derivatives Open Interest Soar to Record $10.98B, Double Cup Pattern Eyes $5.39
Main Idea
XRP's price surge is driven by bullish technical indicators, a double cup formation, and increased derivatives open interest, with potential for further gains if key price levels are maintained.
Key Points
1. XRP's open interest hit $10.98 billion, signaling strong market activity beyond hype.
2. Technical indicators like the golden cross and MACD bullish activity support the price surge.
3. XRP is breaking out of a double cup formation, with a weekly close above $4.05 potentially triggering a rapid rally.
4. XRP has outperformed Bitcoin by 277% year-over-year, supported by Ripple's expansion and partnerships.
5. Whale movements and ETF speculation are contributing to the current market dynamics.
Description
What’s Driving this Surge? Data from Coinglass shows XRP open interest hit $10.98 B, with key exchanges such as Bitget, Binance, Gate, and Bybit each holding substantial positions. This historic jump signals robust capital inflows and growing institutional confidence in XRP derivatives. Bullish Technical and On‑Chain Signal Alignment XRP’s price recently reclaimed key levels from the 200‑day moving average around $3.28 up to a symmetrical triangle breakout where a new all-time high (ATH) price o...
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