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- XRP has gained 11.4% in four days amid heavy whale accumulation.
- Open interest rebounded from $550M to $590M, signaling renewed market confidence.
- A sustained break above $3 could open the path to $4.5.
Ripple’s XRP has staged an impressive 11.4% rally over the past four days, driven by strong whale accumulation and improving market sentiment. The token’s breakout above the key $2.5 resistance zone has injected optimism among traders, signaling a potential shift in short-term momentum.
Analysts view the $2.5–$2.77 range as a critical resistance area. With XRP now challenging the local swing high at $2.64, the next target sits near $3 — a level that could further validate a bullish trend if Bitcoin sustains its move above $112,000.
Open Interest Signals a Possible Trend Reset
According to data from CryptoQuant, XRP’s open interest (OI) recently dropped to around $550 million, matching lows last seen in May. Analyst PelinayPA noted that this drop, triggered by the broader market crash on October 10, likely flushed out excessive leverage — a move that often precedes renewed uptrends.
As open interest rebounded to $590 million within 24 hours, it suggested fresh capital returning to XRP’s derivatives market. If spot demand continues to rise alongside OI, the next price target could extend toward the $3–$4.5 supply zone.
Bullish Sentiment Builds, But Caution Remains
Data also shows the taker buy/sell ratio turning in favor of buyers, signaling strong accumulation pressure at current levels. Historically, this metric has preceded major upswings in XRP’s price. However, despite the renewed optimism, analysts warn that XRP’s broader daily structure remains technically bearish until a decisive close above $3 occurs.
Also Read: Ripple Prime Launch: How XRP and RLUSD Are Transforming Institutional Crypto
The $2.8–$3 region remains the key battleground. A breakout could trigger another leg higher, but failure to sustain momentum could invite a pullback.
XRP’s recent rally highlights renewed investor confidence, underpinned by whale activity and strengthening derivatives data. While short-term conditions look favorable, the coming days will determine whether XRP can reclaim the $3 threshold — and possibly aim for $4.5 if momentum holds.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
