XRP News Today: XRP Eyes $4.50 as Futures Volume Surges 200% and Bull Flag Breaks Out

XRP’s price is showing signs of a significant upward move, with analysts suggesting it could potentially reach $4.50 in the coming months. This projection is supported by a breakout from a bullish chart pattern, coupled with a surge in futures trading volume. Over the past 24 hours, XRP futures volume has increased by over 200%, reaching $12.4 billion—surpassing Solana’s $9.6 billion in the same category [1]. This sharp increase indicates heightened trader activity and speculative interest, particularly in the wake of the resolution of the SEC vs. Ripple lawsuit [2].

The technical indicators also paint a bullish picture. XRP has broken out of a bull flag pattern on its daily price chart, a classic technical formation that typically signals a continuation of an upward trend. Analysts calculate the potential upside target by adding the height of the previous uptrend to the breakout point, which for XRP suggests a target price above $4.50 by September or October [3]. Open interest in XRP futures has also increased by 15%, reaching around $5 billion, reflecting growing commitments from traders [4].

Market sentiment has been further boosted by legal clarity for Ripple, which has enhanced confidence among investors. Additionally, XRP’s positive daily funding rate of 0.01% indicates a strong preference for long positions, as traders anticipate further price gains [5]. However, analysts from on-chain data provider Glassnode have cautioned that heavy long positioning can increase downside risks. A pullback could potentially trigger liquidations, especially if overleveraged positions are involved [6].

The cost basis distribution data for XRP reveals that a large portion of the supply—over 1.7 billion tokens—was acquired at prices between $2.80 and $2.82. This level may act as a key support if prices experience a correction, as traders who bought at those levels could defend their positions to protect profits [7].

Looking ahead, analysts like Milkybull Crypto and Dom have expressed more aggressive price projections, forecasting XRP to reach between $5 and $10 by the end of 2025. These forecasts are based on the broader trend of increased institutional and retail interest in the asset [8]. A potential Federal Reserve rate cut in September could further amplify demand for riskier assets like XRP, providing an additional tailwind for the price action [9].

Overall, XRP’s current trajectory reflects a strong bullish sentiment, driven by robust futures volume, favorable chart patterns, and positive legal developments. Traders and investors are closely watching the asset as it moves closer to the $4.50 target, making it a key focus in the cryptocurrency market.

[1] https://en.coinotag.com/xrp-price-may-target-4-50-amid-surge-in-futures-volume-and-bullish-chart-patterns/