XRP Price Stable as Traders Bet Big on Futures Market

XRP Price- Ripple Traders Watch $2.20 Support as Price Action Tightens

XRP Price– Ripple (XRP) has seen a notable rise in futures market Open Interest, reaching $4.56 billion according to CoinGlass data. Binance led with $895.58 million, followed by Bybit at $760 million, Gate.io with $750 million, and MEXC adding $206.94 million, reflecting strong trader engagement across platforms.

Rising Open Interest and Market Volatility

Growing interest in options trading suggests increased volatility could impact XRP option prices. Despite this, XRP’s price remained steady around $2.30 during the recent period of rising market activity. Typically, an increase in open contracts alongside a rising price signals bullish market sentiment. However, if prices stagnate or fall amid rising interest rates, the broader market could face prolonged challenges.

Market positioning indicates that improving sentiment may trigger significant price movements in the near future.

XRP Price Analysis Amid Daily Fluctuations

Following a series of Change of Character (CHoCH) events, XRP’s price dipped to $2.2983, marking a 0.80% decline and touching a key demand zone. Support levels were noted at $2.20, with resistance between $2.40 and $2.70, where the price tested equal highs multiple times.

Price movements have been confined within a narrow range, with repeated failures to break above $2.40 signaling waning bullish momentum. Maintaining support above $2.20 could see XRP rise back to $2.40 and potentially test resistance near $2.70. A break below $2.20 may lead to a drop toward the demand zone around $2.10, with close attention needed at the visible equal low near $2.22.

The market outlook remains cautiously bullish if XRP regains $2.40, while failure to hold $2.20 could intensify bearish pressure.

Regulatory Update: SEC Reviews WisdomTree XRP Trust

In parallel, the U.S. Securities and Exchange Commission (SEC) continues its evaluation of the WisdomTree XRP Trust. The Cboe BZX Exchange has petitioned the SEC to approve XRP-based products for listing. The SEC acknowledged the request on March 11 and extended its review period, though no final decision has been made yet.

This ongoing review highlights the regulators’ careful approach toward integrating crypto products into traditional markets. While approval remains uncertain, the SEC’s attention indicates serious consideration of XRP’s role in the evolving regulatory landscape.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.