Key takeaways:
XRP (XRP) is flashing a number of technical and onchain indicators, suggesting {that a} rally to $6 is feasible over the subsequent few weeks. Key developments surrounding Ripple and a surge in XRP futures demand are making the case for additional upside.
Rising OI backs XRP’s upside
XRP worth rose alongside different altcoins on Wednesday, fueled by a lot of components, together with the top 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
Using 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 ‘manner 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 growing alongside the value signifies new cash coming into the market, notably from institutional buyers.
In the meantime, XRP’s day by day funding charge was optimistic at 0.04%, suggesting that almost all merchants have been taking lengthy positions, anticipating additional upside.
XRP’s ratio of lengthy/quick accounts on Binance is presently 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 day by day chart exhibits that XRP worth buying and selling remains to be validating a bull flag, with the value dealing with resistance from the multi-year excessive at $3.66.
A day by 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% improve from the present worth.
Zooming out, XRP’s worth has shaped a rounded backside chart sample on the weekly chart (see beneath). Bulls at the moment are targeted on pushing above the chart sample’s neckline at $3.40.
A day by 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% improve from the present stage.
The relative energy index, or RSI, is at 64, suggesting that the market situations aren’t but overheated.
As Cointelegraph reported, XRP’s breakout from a seven-year double-bottom construction might end in a 10x improve in worth if historical past repeats.
This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer includes danger, and readers ought to conduct their very own analysis when making a choice.
