XRP News Today: XRP Price Surges 4% as Open Interest Jumps 25%

XRP, the cryptocurrency, has seen a notable increase in its price and open interest (OI) over the past 24 hours. The price of XRP has risen by 4% to $2.43, while its open interest has surged by 25%. This increase in OI indicates a growing interest from derivatives traders and a significant influx of capital into the market. Historically, such spikes in OI have preceded major rallies in XRP's price. For instance, in early March, when the US President directed the creation of a crypto strategic reserve, XRP's OI jumped by 46%, leading to a 36% increase in its price.

The positive spot market activity has also flipped the futures funding rate to positive, suggesting a return of investor optimism. The 8-hour perpetual contracts funding rate for XRP stood at 0.0126% on May 22, a significant improvement from the 0.0033% level observed on May 21. This positive funding rate indicates increasing bullishness among derivatives retail traders.

Technical analysis suggests that XRP could rally to $14 if a classic bull flag pattern is confirmed. The XRP/USD pair has formed a bull flag pattern on the weekly chart since Nov. 5, 2025. A weekly candlestick close above the flag’s upper boundary at $2.48 would produce another rally. The target is set by the flagpole’s height, which comes to be around $14.50, an approximately 500% increase from the current price. Other bullish indicators include the support provided by the simple moving averages sitting between $2.20 and $2.30 on the daily timeframe and the relative strength index resetting just above the 50 mark.

Several analysts have also predicted further gains for XRP, citing chart technicals and the price holding above key support levels. Market analyst Dom highlighted that XRP price has held perfectly above the monthly and quarterly volume-weighted average prices (VWAPs) of $2.32 and $2.27. The analyst emphasized that the altcoin must flip the all-time high VWAP at $2.47 to sustain a bullish continuation. According to the analyst's forecast, the trigger for a leg up will be clearing the ATH VWAP (green).

In summary, the recent increase in XRP's price and open interest, along with the formation of a bull flag pattern, suggests a potential rally to $14. The positive funding rate and support from key technical indicators further support this bullish outlook. However, it is important to note that every investment and trading move involves risk, and investors should conduct their own research when making a decision.