XRP futures OI jumps 20% as price charts target $6 in August

Key Points

1. XRP price rose 6.8% to an intraday high of $3.31, with open interest increasing by 9.5% in 24 hours and 24% over 10 days to $8.68 billion.

2. The daily funding rate for XRP is positive at 0.04%, and 74% of Binance accounts are taking long positions, indicating bullish sentiment.

3. Technical analysis shows XRP validating a bull flag pattern, with a potential target of $5.80 if it breaks the resistance at $3.66.

4. A rounded bottom pattern on the weekly chart suggests a technical target of $6.70, representing a 102% increase from current levels.

5. The RSI at 64 indicates that market conditions are not yet overheated, leaving room for further price appreciation.