đ¶ $XRP Leads Crypto Gains with 5% Surge, Open Interest Hits 5-Month High
â¶ïž XRP has seen a significant price increase, rising 5% to trade at $0.6278 on September 29. This surge is part of a broader recovery that began on September 6, with XRP climbing over 10% in the past 30 days. The token's performance has been fueled by a substantial increase in open interest, which has risen by approximately 67% since September 7, reaching $932.3 million â a level not seen since April 2024.
đ Analysts are bullish on XRP's future prospects, with some predicting potential targets of $2, $4.2, or even $9.98 based on various technical indicators. The token has shown a bullish breakout from a symmetrical triangle pattern on the weekly timeframe, and its relative strength indicator (#RSIIndicator ) has sent a rare bullish signal on the monthly chart. Additionally, increasing demand for leveraged long positions in XRP is evident from rising perpetual futures funding rates, suggesting traders are anticipating further price increases.
