Paul Bennett

🚨 XRP Surge: Traders Pile In as $1.36B in Open Interest Returns 🚨

$XRP bounced nearly 8% after last week’s crash, signaling aggressive dip buying and renewed market activity.

📊 Key Metrics

• 💰 Price: $2.56 (+8% 24h, -14% weekly)

• 📈 24h Trading Volume: $10.7B (+40%)

• 🔗 Open Interest (Futures/Options): $1.36B (+2.38%)

• 📉 RSI: 34.5 → short-term oversold

• 🚧 Critical Levels:

• ⚡ Resistance: $2.62 (July range), $2.63 (200 EMA), $2.74 (38.2% Fib)

• 🛑 Support: $2.30 → $2.00 if broken

🐋 Whale Activity

• 💸 23.88M $XRP (~$62.6M) moved to Binance → potential selling pressure from large holders

🔹 Technical Analysis

• 🚀 Bullish Signals:

• Rising volume + price off lows

• Oversold RSI → potential rebound

• ⚠ Bearish Risks:

• Below 200-day EMA → structural weakness

• Large whale inflows → selling pressure

• 🗝 Key Zones:

• 🔓 Break above $2.74 → momentum toward $3.10

• 🔒 Break below $2.30 → risk of drop toward $2

🧠 Expert Take

The market is testing critical resistance and liquidity zones, which will determine whether this recovery turns into a sustained rally or just a short-lived rebound.

#Hyperliquid #MarketTurbulence #BTC

WhiteBIT Chart (5D): $XRP | $USDT