XRP Traders Bet on $10 Target as Bitrue Values XRP Higher
Crypto exchange Bitrue says XRP is trading far below its “fair value.” With XRP around $1.42, Bitrue estimates a value near $10—implying a much larger market cap (over $610B).
Derivatives data adds a key twist. Despite XRP slipping (about -4% over the past week), XRP futures open interest (OI) reportedly rose to $2.60B (+7% in a day) on CoinGlass. That increase, paired with only slight growth in longs and no rise in shorts, suggests traders are adding long exposure on dips rather than positioning for further downside.
Technical views are mixed. Some Elliott Wave interpretations warn XRP could still be in a Wave 2/5 correction, potentially tagging $1.51 before a sharper pullback. Key downside levels being watched include $1.12 (double-bottom scenario) and $0.87 (long-term accumulation zone).
Meanwhile, longer-term targets of $5 and $10 remain in circulation, supported by narratives around institutional interest, Ripple’s legal resolution with the SEC, and broader blockchain payments adoption. Traders appear divided in the short term, but XRP’s derivatives behavior hints at renewed buy interest—especially if price stabilizes near current ranges.
Bullish
This news is bullish-leaning but not cleanly “all-clear.” Bitrue’s $10 valuation is a narrative catalyst for XRP, but the more actionable signal for traders is the XRP futures behavior: open interest rising to about $2.60B while shorts do not expand suggests longs are being added on weakness. In past XRP and other majors, this combination (OI up + shorts flat during price dips) often precedes stabilization or a rebound attempt, because it reflects positioning changes rather than just price noise.
However, the article also flags a potential corrective structure (Wave 2/5) with downside checkpoints ($1.51, then $1.12 and $0.87). That means the bounce case could be delayed or come with volatility.
**Short term:** watch whether XRP holds near the cited support zones; if OI continues climbing while price stabilizes, upside targets (toward $5–$10) become more credible.
**Long term:** if the broader institutional/legal and adoption narratives keep improving, the market may gradually re-rate XRP toward higher targets—though the path likely remains choppy.