XRP remains resilient as futures Open Interest rises to $4.93B; check forecast
2025-07-09 11:51:04
Main Idea
XRP's price is rising amid increased futures Open Interest and anticipation of key regulatory events, including Ripple CEO Brad Garlinghouse's Senate testimony and the SEC's potential appeal withdrawal.
Key Points
1. XRP's price increased by 2.3% in the last 24 hours, trading above $2.3 per coin, with futures Open Interest surging to $4.93 billion.
2. Ripple CEO Brad Garlinghouse will testify before the US Senate Banking Committee on July 9, 2025, regarding crypto market structure legislation.
3. The SEC's upcoming decision on whether to withdraw its appeal against XRP is contributing to the coin's price rise.
4. Technical indicators, including MACD and RSI, suggest a bullish trend for XRP, with potential to reach $3 for the first time since March 2025.
5. Institutional interest in XRP is growing, with futures and options contracts valued at $3.53 billion as of June 23, 2025.
Description
Bitcoin has been stuck around the $108K region since the start of the week. However, altcoins have fared much better, with most of them adding over 2% to their values in the last 24 hours. Ripple’s XRP has continued its recent run as it is currently up 7% in the last few days. The coin could rally higher as suggested by its growing futures Open Interest. XRP tops $2.3 as investors look forward to Garlinghouse’s testimony before the U.S. Senate XRP, the native coin of the Ripple ecosystem, added ...
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