Ripple’s legal fight with the U.S. SEC is finally over. That has removed years of uncertainty for XRP (XRP-USD) holders. Since the settlement, traders have been more willing to bet on higher prices. On Wednesday, XRP climbed from $3.10 to $3.31. That is almost a 7% rise in less than a day.
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The increase came with much heavier trading. Futures open interest, which shows how much money is tied up in ongoing bets, rose 24% in just ten days to $8.68 billion. This means more traders, including large institutions, are stepping in.
Futures Market Favors the Bulls
Data shows most traders are betting on XRP to rise. Funding rates are positive, which means those with long positions are paying extra to hold their bets. On Binance, 74% of traders are holding long positions. This is a sign of confidence in the rally.
However, when so many people take the same side, the risk increases. If the price falls sharply, many traders could rush to sell at the same time.
XRP Charts Show Targets Above $5
On the daily chart, XRP is still moving within a pattern called a bull flag. If the price can close above $3.66, the pattern points to a target of $5.80. That would be a 77% jump from current levels.
Looking at the weekly chart, the picture is even stronger. XRP has formed a rounded bottom pattern, which often leads to larger moves. The key level to break is $3.40. A close above that could push XRP toward $6.70.
There May Be Plenty of Room for XRP to Climb
The Relative Strength Index, which measures if a coin is overbought, is at 64. This is below the level where rallies often slow down. That means there is still space for the price to rise without being stretched too far.
History also supports the bullish view. The last time XRP broke out of a similar long-term pattern, its price went up by ten times. If that happens again, $6 might just be the start.
At the time of writing, XRP is sitting at $3.2680.
