$XRP leads crypto weekend gains fueled by surging open interest
XRP shows strength against the US dollar as open interest surges. Is a move beyond $1 realistic?
XRP $0.6504 price was up 5% to trade at $0.6278 on Sept. 29. This is part of a prevailing recovery that began on Sept. 6 and has seen the remittance token rise more than 10% over the last 30 days, fueled by a significant increase in its open interest.Data from Cointelegraph Markets Pro and TradingView shows XRP rose from a low of $0.5027 on Sept. 6, climbing as much as 26% to an intraday high of $0.6335 on Sept. 29.
The total crypto market capitalization is up 0.4% to $2.29 trillion. As such, XRP price performance over the last 24 hours has seen it become the third-highest gainer among the top-100 cryptocurrencies by market value.
Traders are increasingly betting on XRP to see âsignificant price movementsâ:-
âXRP has shown significant price movements with predictions and immediate targets around $0.66,â declared crypto YouTuber Raajeev Anand in a Sept. 29 post on X.
âXRP could see a substantial increase, aiming for targets like $2 or even much higher figures like $4.2 or $9.98 due to bullish patterns observed in its chart.â
Anand explained that the market sentiment around XRP has been largely positive. Analysts point to formations like a breakout from a symmetrical triangle, a golden cross, and other bullish indicators suggesting strong momentum for further XRP price increases.
XRPâs price action on the weekly timeframe reveals a bullish breakout from a symmetrical triangle that has persisted since 2020. A sustained rally above this chart formation could see XRP price rise toward the bullish target of the prevailing chart pattern at $2.0.
Meanwhile, another crypto analyst, Captain Faibik, told his over 96,000 followers on X that the XRP price had completed and broken out of the falling wedge, confirming a massive breakout for the tokenâs price toward $3.9. However, they set the short-term target to $2.3.
