XRP News Today: XRP Poised for 15% Jump as Open Interest Surges 43%

Ripple’s XRP has shown minimal movement recently, but several indicators suggest a significant price jump may be imminent. The growing open interest in XRP, which has surged from $3.5 billion to nearly $5 billion in under two weeks, signals that many traders are anticipating higher prices. This optimism is further fueled by the upcoming testimony of Ripple CEO Brad Garlinghouse before the U.S. Senate, which could bring positive news for crypto regulations and potentially boost XRP’s value.

Another factor contributing to the bullish sentiment is the increasing speculation around the approval of an XRP Exchange-Traded Fund (ETF). Prediction markets indicate a 90% chance of an XRP ETF approval by the end of 2025, driven by recent regulatory victories for Ripple and the broader acceptance of crypto ETFs in the U.S. This development could significantly enhance XRP’s market presence and attract more institutional investors.

Large investors, or whales, are also accumulating XRP. Wallets holding between 100 million and 1 billion XRP have increased their holdings by nearly a billion coins, while smaller whales with 100,000 to 1 million XRP have purchased an additional 30 million coins in just two weeks. This accumulation suggests that major players are positioning themselves for a potential price surge.

Ripple’s efforts to secure a banking license are another positive indicator. If approved, this license could boost investor confidence in Ripple’s plans and drive up XRP’s price. The potential for new growth opportunities in the banking sector could translate into increased demand for XRP, further supporting its price.

Technical analysis also points to a potential breakout. The ascending triangle pattern forming on XRP’s chart is a bullish signal, often preceding a strong upward move. If XRP can break and hold above the $2.29 resistance line, turning it into support, the next target could be around $2.60, representing a 15% jump. Technical tools like the Relative Strength Index (RSI) and Average Directional Index (ADX) also indicate that buyers still have the upper hand, supporting this optimistic outlook.

Currently, XRP is trading around $2.29, reflecting a 0.7% rise in the last 24 hours. The convergence of these factors—growing open interest, ETF speculation, whale accumulation, regulatory developments, and technical signals—suggests that XRP is poised for a significant breakout. Investors and traders are closely monitoring these developments, as a successful breakout could have wide-ranging implications for the broader cryptocurrency market.