XRP Futures OI Up 20%, Charts Signal Possible $6 Rally
XRP price has seen a surge in futures open interest, rising 9.5% in 24 hours and 24% over 10 days to $8.68 billion. Renewed demand follows the SEC’s resolution of its case against Ripple. The daily chart shows XRP trading inside a bullish flag pattern, with resistance at $3.66. A close above this level could send XRP price toward the bull flag target of $5.80. On the weekly chart, a rounded bottom breakout above the $3.40 neckline would confirm a bullish trend and pave the way for a $6.70 technical target. Key indicators like the 0.04% positive funding rate, a 74% long position skew on Binance, and an RSI of 64 signal room for further upside. Traders should watch for a decisive close above critical chart levels.
Bullish
The sharp rise in XRP futures open interest indicates fresh capital entering the market, often a precursor to price rallies. The SEC’s litigation resolution removed a major legal overhang, mirroring previous episodes when regulatory clarity boosted XRP’s performance. Technically, the bull flag on the daily chart and the rounded bottom breakout setup on the weekly chart both point to higher targets at $5.80 and $6.70 respectively. Positive funding rates and a strong long bias on Binance reinforce bullish sentiment. In the short term, a decisive close above $3.66 should trigger rapid upside as traders chase breakout momentum. Over the long term, sustained open interest growth and legal certainty may underpin a move toward new all-time highs.