Key takeaways:
XRP (XRP) is flashing a number of technical and onchain alerts, suggesting {that a} rally to $6 is feasible over the following few weeks. Key developments surrounding Ripple and a surge in XRP futures demand are making the case for additional upside.
Growing OI backs XRP’s upside
XRP worth rose alongside different altcoins on Wednesday, fueled by quite a lot of components, together with the tip of the authorized battle between Ripple, the blockchain firm behind XRP, and the US Securities and Alternate Fee.
🔥 UPDATE: The SEC has issued a Litigation Launch asserting the decision of its case towards Ripple. pic.twitter.com/uAKQC872vi
— Cointelegraph (@Cointelegraph) August 12, 2025
Driving with the wave, XRP worth rose as a lot as 6.8% to an intraday excessive of $3.31 on Wednesday from a low of $3.10 the day earlier than.
Associated: Is XRP ‘approach overvalued’ to purchase proper now?
The open curiosity additionally climbed 9.5% over the past 24 hours and 24% over the past 10 days to $8.68 billion on the time of writing, signaling the return of derivatives merchants.
Futures OI rising alongside the worth signifies new cash getting into the market, significantly from institutional traders.
In the meantime, XRP’s each day funding price was optimistic at 0.04%, suggesting that almost all merchants had been taking lengthy positions, anticipating additional upside.
XRP’s ratio of lengthy/quick accounts on Binance is at the moment skewed towards bullish positions at 74%. Whereas this heightened exercise introduces liquidation dangers, it underscores rising confidence in XRP’s upside potential..
XRP worth charts goal over $6
The each day chart exhibits that XRP worth buying and selling continues to be validating a bull flag, with the worth dealing with resistance from the multi-year excessive at $3.66.
A each day candlestick shut above this space will clear that path for XRP’s rise towards the bull flag’s goal at $5.80, representing a 77% enhance from the present worth.
Zooming out, XRP’s worth has shaped a rounded backside chart sample on the weekly chart (see under). Bulls are actually targeted on pushing above the chart sample’s neckline at $3.40.
A each day candlestick shut above this stage would verify a bullish breakout from the rounded backside, ushering XRP into worth discovery with the technical goal set at $6.70, or a 102% enhance from the present stage.
The relative power index, or RSI, is at 64, suggesting that the market situations will not be but overheated.
As Cointelegraph reported, XRP’s breakout from a seven-year double-bottom construction might end in a 10x enhance in worth if historical past repeats.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer includes threat, and readers ought to conduct their very own analysis when making a choice.
