XRP sights new all-time high following 50% open interest spike

XRP open interest rose 40% in 24 hours.

Buying pressure across exchanges and investment products kept XRP positive.

XRP may break a bullish pennant and launch a huge breakout.

On Monday, Ripple's XRP rose 1% to $2.40 after its futures open interest rose 40%. The increase may enable the remittance-based coin clear bullish pennant barrier.

XRP on-chain activity shows positive momentum following open interest rise.

A 40% increase in XRP futures open interest occurred on Monday, from 1.09 billion to 1.53 billion. Derivatives market open interest is the number of unresolved contracts.


The current rise in open interest despite unchanged pricing suggests additional liquidity will feed XRP's bullish bias, particularly with Donald Trump's inauguration on January 20. When bullish expectations are large, prices might move oppositely.

Thanks to Binance, OKX, and Bybit investors' $91.81 million net outflows, XRP exchange net flows were slightly positive last week. Coinbase received $76.53 million from negative US investors.

XRP investment products were the only major crypto asset with positive flows last week. According to CoinShares, the products had the greatest net inflows of all digital assets investment products at $5.7 million.

Crypto ETF/investment product inflows indicate purchasing, while outflows indicate selling. In crypto exchange flows, inflows signify selling and outflows vice versa.

Coinglass data shows $3 million in futures liquidations for XRP in the previous 24 hours, with long positions liquidating for $1.72 million and short positions $1.28 million.

After hitting the pattern's upper boundary resistance twice in three days, XRP is close to confirming a bullish pennant. XRP might reach a new high at $4.78 if it breaks this barrier with significant volume.

It may face critical barriers at its all-time high of $3.55 and approaching psychological resistance below $3.00.

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