XRP Open Interest Hits May 2025 Low, Potential Rally Ahead
The latest on-chain data indicates that XRP's open interest has dropped to levels last observed in May 2025. This could imply significant market movements for XRP.
Derivatives Market Insights
- The Open Interest (OI) metric, which measures the total value of open derivatives contracts, has seen a decline similar to May 2025.
- This dip coincides with XRP's price around $2.50, higher than during the last OI decrease.
- A reduction in OI often suggests the removal of over-leveraged positions, leaving stronger market participants.
- After the previous OI low, XRP's trading volume increased, raising the price to $3.50.
Key Price Zones for XRP
- Support Zone: $2.20-$2.40, crucial for maintaining an uptrend.
- A breach below this zone could lead to a decline to $1.85, the next major support.
- If the $1.85 support fails, prices might drop to $0.60-$0.70.
- A sustained 25% increase in OI could indicate a bullish breakout.
- Potential Resistance Levels: $2.80-$3.00 and $3.30-$3.50.
- A breakout above these levels could initiate a surge towards $4.20-$4.50.
Currently, XRP is valued at approximately $2.61, reflecting a rise of over 2% in the past day.
