XRP Price Nears $3.00 as Crypto Market Sentiment Stays Strong
The XRP price is rising quickly and is now close to the key level of $3.00, its highest in the past five months. This strong move comes as the overall crypto market is filled with positive energy, especially after Bitcoin hit a new all-time high above $123,000.
In the XRP derivatives market, Open Interest has increased to around $8.3 billion, showing that more traders are betting on XRP’s price movement. Despite a $104 million outflow from digital asset investment products last week, retail traders continue to support XRP, especially in futures and options trading.
Trading volume for XRP has also jumped by about 53%, reaching around $23 billion, which shows strong participation from buyers. The rising volume and interest suggest that the momentum may continue—if market conditions stay positive.
From a technical point of view, the XRP price is close to strong resistance at $3.00. If it breaks and closes above this level, it might aim for the next targets at $3.40 or even higher. However, indicators like the Relative Strength Index (RSI) and Money Flow Index (MFI) are both in the overbought zone, meaning the price could drop slightly as traders take profits.
Key support levels are at $2.65 (May’s high) and around $2.32 (near the 50-day moving average). If the price pulls back, these levels might hold.
Impact :
If Bitcoin keeps rising, XRP could break above $3.00. But since the market is overbought, a short pullback or sideways movement might happen before another big jump.