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XRP Futures Open Interest Hits $9 Billion as Price Tests Resistance
XRP is back in focus after repeatedly testing the key $3.18 resistance level, signaling growing momentum for a potential breakout. Despite short-term concerns triggered by a massive whale transaction, market structure remains bullish for now.
Whale Movements and Market Reactions
A large transfer of 16.48 million XRP—valued at over $50 million—from an unknown wallet to Coinbase has raised eyebrows. Historically, such whale inflows precede spikes in volatility, as large holders often seek liquidity during key price moments.
As AMBCrypto notes:
“While inflows do not always lead to immediate downward action, they tend to create uncertainty.”
With XRP trading near a major resistance level, the timing of this inflow has amplified speculation around potential short-term price moves.
Technicals Show Strength Above $2.97
XRP is hovering near the upper boundary of its descending channel, with $2.97 holding strong as immediate support. Multiple retests of the $3.18 level have gradually weakened this resistance zone. A confirmed breakout could open the door to $3.37, with further upside toward $3.60.
Futures Market Reveals Speculative Demand
According to latest data, Open Interest (OI) for XRP Futures surged to $9.03 billion, marking a 5.44% daily increase. This signals a build-up in leveraged positions, suggesting traders are anticipating a major move.
While some see this as bullish positioning, others warn of rising short interest. Either way, increased leverage heightens volatility risk.
