XRP (XRP) Price: Bulls Target $2.20 Breakout as Open Interest Reaches $5 Billion

TLDR

Table of Contents

XRP trades at $2.18 with a market cap of $128 billion and 24-hour volume of $1.77 billion
Open interest has surged to nearly $5 billion, indicating increased speculative activity
Token is consolidating in a tight range between $2.14-$2.20, often preceding breakouts
Bulls need to break above $2.19-$2.20 resistance for potential rally to $2.30
High open interest could trigger either short squeezes or large-scale liquidations

XRP is trading at $2.18 as of 5 p.m. Eastern time with a total market capitalization of $128 billion. The token has maintained a tight trading range between $2.14 and $2.189 throughout the day.

Daily trading volume reached $1.77 billion as market participants position for a potential breakout. Price action shows cautious optimism despite mixed technical indicators across different timeframes.

The one-hour chart reveals a short-term recovery from recent lows around $2.124. Buyers have stepped in at lower price levels, creating higher lows and increased volume. This pattern suggests accumulation by institutional participants and experienced traders.

A key pullback entry zone has formed between $2.16 and $2.165. The microstructure reflects a bullish setup that requires confirmation to extend gains further.

Chart Request: #XRP $XRP just broke out of a symmetrical triangle on strong volume — a bullish signal on the 2H chart.
Price has surged through the triangle resistance and is now testing a key supply zone around $2.22–$2.24. This zone previously acted as a major breakdown… pic.twitter.com/FAbgvXyh3d
— Alpha Crypto Signal (@alphacryptosign) June 3, 2025

The four-hour chart shows XRP stabilizing after rebounding from support near $2.08. Volume spiked during the recent dip, hinting at strategic accumulation by market participants.

An emerging mini ascending triangle pattern could favor bulls if they break above $2.185 to $2.19. A successful move with volume confirmation could propel prices to $2.22, followed by a possible test of $2.30.

Open Interest Surge Signals Speculative Activity

XRP’s open interest has surged to nearly $5 billion over the weekend. This increase indicates growing speculative activity as traders take sizable positions in the derivatives market.

Bitget chief market analyst Ryan Lee noted this spike suggests strong potential momentum. Market participants are bracing for a decisive move in either direction.

The token is currently trading in a tight consolidation range. This technical pattern often precedes breakouts when combined with consistent spot buying pressure.

Historically, similar setups in XRP have resulted in rapid rallies. These moves often catch short sellers off guard and trigger short squeezes.

However, elevated open interest could amplify volatility in both directions. Without a clear catalyst, traders face risk of large-scale liquidations if sentiment shifts.

Technical Indicators Show Mixed Signals

From a daily chart perspective, XRP has been in a downtrend since peaking at $2.656. The token recently bounced from the $2.10 level but faces resistance between $2.30-$2.35.

Volume trends remain weak during this sideways phase, limiting bullish momentum. Support has been validated twice around $2.08-$2.10, providing a floor for current price action.

Technical oscillators present mixed signals across the board. The relative strength index stands at 41.31, suggesting neutral momentum for the token.

The Stochastic oscillator at 24.41 also supports a neutral stance. However, the commodity channel index at -135.43 signals a potential bullish opportunity from oversold conditions.

Moving averages from EMA 10 at $2.23772 to SMA 100 at $2.25650 are flashing bearish signals. Only the EMA 200 at $2.07677 suggests long-term support remains intact despite near-term weakness.

Market watchers are monitoring developments around the XRP Ledger for fundamental catalysts. Any ETF-related momentum from institutional interest could also impact price direction.

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