XRP Futures Volume +200%, Hits Bull Flag Break, Eyes $4.50
XRP futures volume surged over 200% in the past 24 hours to $12.4 billion, overtaking Solana’s $9.6 billion after the dismissal of Ripple’s legal appeal with the SEC. Open interest climbed 15% to $5 billion, while a positive 0.01% funding rate indicates long bias. A cost-basis heatmap shows strong support at $2.80–$2.82, where over 1.7 billion XRP are held. Technically, XRP broke above a bull flag pattern with confirming volume, pointing to a $4.50 target by September or October. Anticipation of a Fed rate cut this fall could further fuel risk assets, including XRP. With XRP futures volume climbing and bullish chart signals, traders should monitor liquidation risks from overleveraged longs and defend the $2.80 support zone.
Bullish
The surge in XRP futures volume and open interest, coupled with a positive funding rate, indicates strong trader conviction and rising liquidity. The breakout of a bull flag pattern with confirming volume supports a near-term move toward the $4.50 target. Cost-basis data highlights robust support at $2.80–$2.82, reducing downside risk. Additionally, the anticipated Fed rate cut this fall could further boost risk assets, underpinning longer-term upside. While traders should manage liquidation risks from overleveraged positions, the overall setup remains bullish for XRP.