The XRP price is showing a bullish pennant on the daily chart, which is associated with strong bullish momentum. XRP has gained 15% in the past week and reached $2.44 as of January 6. The 45% increase in open interest indicates increased trading activity and money entering the market. Historically, large increases in open interest have triggered dramatic increases in the XRP price. Analysts predict that XRP could reach $15 by May 2025.