XRP continued its breakout rally early Wednesday, briefly surging to $3.30 during Asian trading hours — now just 4% shy of its all-time high of $3.40 set back in 2018.
📈 Futures Surge Signals Bullish Momentum
Fueling the rally is a major uptick in futures open interest, which jumped 26% in the past 24 hours to $9.98 billion across top exchanges — the highest since 2021. Elevated funding rates suggest traders are aggressively opening long positions, despite signs of short-term overheating.
🔍 Open interest tracks the number of active, unsettled futures contracts. Rising prices alongside rising open interest typically signal strong bullish sentiment and expectations of continued upside.
🐋 On-Chain Activity: Whales Accumulating
According to WhaleTrace, large XRP holders have accumulated over 2.2 billion XRP in the last two weeks. Much of this activity coincides with the launch of leveraged crypto ETFs in the U.S., as well as Grayscale’s confirmation that XRP will be added to its Digital Large Cap Fund, lending additional institutional credibility to the asset.
📊 Technicals & Resistance Ahead
Despite the momentum, traders are watching the $3.50–$3.84 range as a key resistance zone, per CoinDesk Analytics.
The Relative Strength Index (RSI) on the 4-hour chart has remained above 80 since Tuesday — a level often associated with overbought conditions and short-term exhaustion. However, breakout volume remains strong, keeping bullish scenarios in play.
⚠️ TL;DR: XRP by the Numbers
Current price: ~$3.30
All-time high: $3.40 (2018)
Futures open interest: $9.98B (+26% in 24h)
Whale accumulation: 2.2B XRP in 2 weeks
Resistance zone: $3.50–$3.84
RSI (4h): >80 (overbought)
