RIPPLE RISE: Will XRP Hit $2.50 This Week?

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RIPPLE RISE: Will XRP Hit $2.50 This Week? 🤔

RIPPLE RISE: Will XRP Hit $2.50 This Week?

XRP price is holding firm above $2, like a rockstar refusing to leave the stage. Traders are positioning for a potential rebound, and derivatives data is hinting at bullish momentum for the week ahead. 🚀

Ripple (XRP) Holds Firm Above $2 as Markets Await Clarity

Ripple (XRP) has had a wild ride over the past week, folks. XRP price closed the last three days of the week with 17% losses, plummeting as low as $2.06 on Saturday. But, in a stunning turn of events, bulls battled back to retake $2.10 at press time on March 31. It’s like they say: “when life gives you lemons, make lemonade”… or in this case, when life gives you $2.06, make $2.10! 🍋

Crypto traders are eagerly awaiting clarity on the U.S. Congress confirmation process of Trump’s SEC chair nominee, Paul Atkins. Will he be confirmed, or will it be a no-go? The suspense is killing us! 😱

125% Surge in Options Trading Hints Positive Start to the Week

While XRP held firm at the $2 support in the spot markets, traders are placing optimistic bets in the derivatives markets. It’s like they’re saying, “we’re not out of the woods yet, but we’re feeling hopeful!” 🌲

Coinglass’ latest data shows XRP options volume has surged by 125.93% to $7,540, while open interest grew 149.56% to $978,100. This is like a big ol’ thumbs up from the traders! 👍

Additionally, XRP’s long/short ratio of 0.9708 in the past 24 hours indicates a nearly balanced sentiment, slightly favouring long positions. Binance‘s XRP/USDT long/short ratio for accounts stands at 3.1, signalling that traders on major exchanges expect a rebound. It’s like they’re saying, “we’ve got this, XRP!” 💪

Another bullish signal is the 12-hour liquidation data, showing that $3.86M worth of long positions remained resilient compared to $1.78M short liquidations. This is like a big ol’ pat on the back from the traders! 🙌

However, traders should remain cautious of the overall decline in trading volume, down 15.03% to $7.27B. This slowdown in market activity could limit XRP’s upside potential unless fresh catalysts emerge. It’s like they say, “don’t count your chickens before they hatch”… or in this case, don’t count your XRP gains before they happen! 🐓

At press time on Sunday, XRP price is showing resilience at $2, with derivatives traders placing bullish bets on a rebound. If positive momentum persists, XRP could target the $2.50 level in the coming week. Fingers crossed, folks! 🤞

XRP Price Forecast: Bullish Breakout Could Send XRP to $2.50 Next Week

XRP price forecast remains optimistic as the token holds steady above $2 despite the formation of a bearish pennant on the daily chart. The Parabolic SAR dots above the candles signal persistent bearish pressure, but the narrowing Keltner Channel (KC) suggests volatility is contracting, potentially setting up a sharp breakout. XRP price recently tested the lower KC boundary at $2.0273, reinforcing it as a key support level. It’s like they say, “when the going gets tough, the tough get going”… or in this case, when the KC gets narrow, XRP gets going! 🚀

A bullish scenario emerges if XRP reclaims the middle KC line at $2.3043. A decisive close above this level could drive momentum toward the upper boundary at $2.58, paving the way for a $2.50 retest next week. Increasing options open interest from derivatives traders further strengthens the case for an upside move. It’s like they say, “the trend is your friend”… or in this case, the trend is XRP’s friend! 🤜

However, a breakdown below $2.02 could invalidate this outlook. A daily close below this level may trigger further liquidations, exposing XRP price to the $1.90 zone. With volume declining and bearish formations still dominant, bulls must reclaim $2.30 quickly to confirm the reversal. Until then, XRP traders should watch for sustained momentum shifts before committing to a firm directional bias. It’s like they say, “patience is a virtue”… or in this case, patience is a XRP trader’s best friend! 🙏

 

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2025-03-31 04:55