Article Summary
Speculative interest in XRP has surged to levels unseen since the post-inauguration rally, with $2.1 billion in open interest fueling bullish price forecasts. Better-than-expected US inflation data and a US-China trade agreement have revived risk-on sentiment, opening the doors to fresh retail liquidity. The 20% weekly climb solidifies XRP’s escape from a 5-month-long downtrend, making it a stronger contender in the “best crypto to buy” conversation.
What This Means for You
- Be aware of the returning retail liquidity and its impact on XRP price moves.
- Monitor the Taker Buy/Sell Ratio as an indicator of aggressive selling and market stability.
- Stay updated on the potential breakout target of $4, representing a potential 53% surge from current prices.
- Prepare for major catalysts in the coming month with the approval deadline of US XRP spot ETFs on June 17.
Original Post
Open Interest Hits Post-Inauguration Rally Levels
An analyst at CryptoQuant, Boris Vest, noted that XRP futures data on Binance shows that speculation is making a comeback. While still far from the post-inauguration rally’s $1.5 billion peak, XRP is currently seeing levels parallel to the early onset of the post-election rally at $940 million.
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