XRP Price Ready for a $2.60 Breakout: The $2.89 Billion Open Interest Could Spark a Rally!

XRP experienced an underwhelming week, with its price mostly trading around $2.35. The general sentiment of the Altcoin market does not seem to be bullish, and the market is consolidating. However, since March 11, when it hit a low, the XRP token has not gone below the psychological level of $2. This shows that bears are not in control of the market and bulls have a higher chance of creating a breakout. Some analyses have also recently been published that support a bullish sentiment for XRP.

XRP’s Resilience and Growing Investor Confidence

Last year, we had a significant XRP price surge in December, and since then, XRP has kept most of its gains. As such, despite the general turmoil in the market, this token has kept the attention of community members. One of the new developments in the XRP token’s market has been the increase in futures. The market data shows that the total investment in this sector has increased by 36%. Historically, such a significant rise in open interest shows an increase in investor confidence. This, in turn, usually means that investors are accumulating and the market is waiting for a bullish catalyst. 

XRP’s Path to Bullish Momentum: Will It Break Through?

To reach an XRP price breakout, the bulls need to break the current strong resistance levels. However, the macroeconomic variables can not be predicted and can create downturns again, as they have in the past months. This is because since the inauguration of Donald Trump, he has presented an aggressive economic policy. As such, the global fear of a trade war and inconsistent policies of Donald Trump have led to multiple market downturns. Consequently, now most traders have lost their confidence in the market and do not trust the short-term gains. However, we can also find some bullish signals in the market data.

Chart 1 – Provided by Ali Martinez, published on Glassnode, March 29, 2025.

As highlighted in Chart 1, the on-chain data for the XRP network shows a bullish movement in the making. This data and analysis were provided by Ali Martinez, a well-known crypto analyst. Based on his analysis, the capital in the XRP futures market has increased from $2.12 billion to $2.89 billion. This equals a more than 36% increase in just 14 days, which shows the bullish sentiment in the XRP market. Although this increase in open interest is significant, to affirm the bullish movement, XRP needs to remain above essential supports. 

XRP’s Struggle at $2.60: Can Bulls Break Through?

XRP’s price movement shows several rejections at the $2.60 resistance; as such, for a breakout, first bulls need to overcome this level. This range has also kept consecutive bullish movements down, fizzling out the bullish pressure. As such, any bigger XRP price breakout in the short term depends on when the buyers can overcome this level. However, in the long term, traders should monitor the psychological support of $2. The most important long-term resistance is the XRP token’s all-time high of $3.40. As such, if the price goes over the $2.60 point, we can expect a rally to $3.40.

XRP Price Movements: Key Levels to Monitor This Weekend

As we enter the weekend, an XRP price surge seems likely, as any fundamental catalyst can trigger a rally. However, traders should monitor the market as a fall below the $2.20 support can signal the retest of $2. The $2 level is an important psychological support, and a fall below it can be disastrous.

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