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<p>XRP, the native token of Ripple, is making waves in the realm of cryptocurrency with its impressive upside momentum. With a significant price surge of over 17%, XRP has outperformed top assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other cryptocurrencies.</p>   
<h2 class="wp-block-heading" id="h-whales-and-traders-show-confidence-in-xrp"><strong>Whales and Traders Show Confidence in XRP</strong></h2>   
<p>This notable surge has been caused by a bullish breakout from the long-awaited consolidation zone. Additionally, it has attracted significant interest from traders and investors, as reported by the on-chain analytics firm <a href="https://www.coinglass.com/currencies/XRP" target="_blank" rel="noreferrer noopener nofollow">Coinglass</a>. According to data from Coinglass, XRP's open interest (OI) has skyrocketed by 35% in the past 24 hours and 7.9% in the past four hours.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/11/29203307/image-321.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/29203307/image-321-1024x312.png" alt="" class="wp-image-387244"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>   
<p>This growing OI shows traders' interest and confidence in one of the tokens and could support the altcoins in its upcoming rally.</p>   
<p>Apart from traders' strong interest, whales have also been heavily involved in XRP during the recent consolidation, as reported by the on-chain analytics firm CryptoQuant. The data shows that in the past week, while XRP was consolidating, whales and investors accumulated a significant 130 million XRP tokens.</p>   
<figure class="wp-block-image aligncenter size-large is-resized">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/11/29203213/XRP-Ledger-Exchange-Reserve-Binance-12.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/29203213/XRP-Ledger-Exchange-Reserve-Binance-12-1024x576.png" alt="" class="wp-image-387243" style="width: 100%;height:auto"></a>
 <figcaption class="wp-element-caption">
  Source: CryptoQuant
 </figcaption>
</figure>   
<p>These on-chain metrics show the strong confidence of traders and investors and suggest a potential buying opportunity and upside rally in the coming days.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-xrp-technical-analysis-and-upcoming-level"><strong>XRP Technical Analysis and Upcoming Level</strong></h2>   
<p>According to CoinPedia’s technical analysis, XRP appears bullish as it has recently broken out of a tight consolidation zone and is experiencing upside momentum. Based on recent price action, there is a strong possibility it could soar by 15% to the $2 level and potentially higher in the coming days.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/11/29203137/XRPUSDT_2024-11-29_20-31-25.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/29203137/XRPUSDT_2024-11-29_20-31-25-1024x449.png" alt="" class="wp-image-387242"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>   
<p>However, technical indicators like the Relative Strength Index (RSI) suggest that the altcoin could experience a potential price correction in the coming days, as it is trading above the overbought zone.</p>   
<h3 class="wp-block-heading" id="h-current-price-and-market-outlook"><strong>Current Price and Market Outlook</strong></h3>   
<p>At press time, XRP is trading at $1.71 and has experienced a price surge of over 17% in the past 24 hours. During the same period, its trading volume jumped by 75%, indicating heightened participation from traders and investors amid a bullish outlook.</p>

XRP Open Interest Jumps by 35%, Traders Eyes on ATH

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