XRP's Open Interest Surges 36% as Traders Bet on Bullish Momentum

XRP has experienced a significant surge in open interest, increasing by 36% over the past two weeks. This development has sparked discussions among traders and analysts about the potential for a renewed bullish momentum in the cryptocurrency market. The rise in open interest indicates that more capital is flowing into XRP futures contracts, suggesting that traders are positioning themselves for further price increases.

Despite the positive signs, the broader market remains uncertain, with macroeconomic concerns and trade war fears contributing to volatility. XRP's recent price action has shown signs of strength, with the token trading above key support levels after a 35% jump since March 11. However, the path forward is not without challenges. XRP faces strong resistance zones that could either trigger a powerful rally or confirm investor fears of a bull trap.

Analysts have noted that the total capital allocated to XRP futures contracts has surged from $2.12 billion to $2.89 billion in just two weeks. This spike in open interest reflects increased confidence from traders and suggests that many are positioning for further upside. However, for XRP to maintain momentum, bulls must hold current levels and continue pushing toward key breakouts.

XRP is currently trading at $2.35, after several failed attempts to break above the $2.60 resistance level. This price zone has proven difficult to overcome, with repeated rejections keeping the bullish momentum in check. For XRP to initiate a strong upward move, bulls must reclaim $2.60 with conviction—a breakout that could trigger a surge toward the upper boundary of its current range.

On the higher timeframe, XRP remains locked in a clear weekly range between the $2 support level and the $3.40 resistance. This range has defined price action for weeks, and traders are closely watching for a breakout in either direction. The $2.60 level sits just below the mid-range, making it a critical point for bulls to reclaim in order to gain control of the trend.

If bulls fail to hold the $2.25 support zone, a move back toward the bottom of the range is likely. A breakdown below $2.25 could open the door for a retest of the $2 level—a key psychological and structural support. Until then, XRP’s next major move hinges on whether buyers can push past resistance or fold under renewed selling pressure.