The crypto market is climbing out of the valley, and XRP is stealing the show! The coin briefly touched $2.1 and is now, amidst a hefty sell-off, on the rise again. The Open Interest (OI) of XRP shot up by 1.66% to 1.39 billion coins in one hour – a sign that liquidity is increasing significantly. With $2.96 billion in traders’ commitments, there is tension in the air: where is XRP headed?
At the moment, XRP is changing hands for $2.14, a dip of 2.05% in the last 24 hours. But if you zoom out, the coin stands quite strong. After a nocturnal dive to $1.916 earlier this month, investors believe the bottom has been reached.
The OI and trading volume tell a clear story: sentiment is creeping back to pre-crash levels. That liquidation imbalance from before? It seems passé, and the bearish streak is on its return. Investors smell opportunities, and the numbers don’t lie – XRP bulls are taking over the market again.
The spotlight is now fully on the XRP ETF. While macroeconomic factors drive the market and Ripple’s ecosystem partners do their best, ETF approval remains the big hope. Insiders estimate the chance of approval by the SEC at at least 60%. Imagine: green light, and institutional guys jump massively on XRP. This could trigger a huge rally.
XRP has survived the dip and is looking ahead. With OI climbing, liquidity flowing, and an ETF in the wings, the coin seems ready for the next step. Will it be a sprint to new highs, or will it simmer for a while due to Bitcoin’s uncertainty? What do you think – all-in on XRP, or wait until the market returns to calmer waters?
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