XRP Breaks Out on Whale Accumulation, Open Interest Rises
XRP has rallied 11.4% over four days following significant whale accumulation and a decisive breakout above $2.55. Open interest plunged to May lows near $550 million after October’s dip, clearing excess positions and setting the stage for a rebound. Within 24 hours, open interest climbed back to $590 million, while taker buy volume outpaced sells, reinforcing bullish momentum. XRP now faces short-term resistance at $2.64 and $2.77, with $2.80–$3.00 as a critical supply zone. A sustained break above $2.80 would confirm a bullish reversal and open targets at $3.10, $3.40, and potentially $4.50 as seen in prior rallies. Bitcoin’s strength above $112 000 further supports the uptrend. Traders should monitor volume trends, resistance breakouts, and manage risk around key support at $2.80.
Bullish
The surge in XRP driven by whale accumulation and rising open interest signals strong bullish momentum in both spot and derivatives markets. Short term, the decisive breakout above $2.55 and the rebound in open interest to $590 million point to increasing buyer demand, making $3.10 and $3.40 key upside targets. Long term, a sustained move above the $2.80–$3.00 supply zone would confirm a trend reversal and open the path toward previous peak levels near $4.50. While Bitcoin’s strength above $112,000 adds further support, traders should remain cautious of profit-taking around supply zones and manage risk at critical support near $2.80.