XRP climbed above $1.10 as open interest hit 2.14 billion despite $7 billion ETF outflows

Trading volume surged overnight

The uptick gained momentum in the early morning hours. Trading volume spiked to 43.51 million XRP, marking an increase of roughly 88% compared to the 24-hour average. In the following hour, 14.17 million XRP changed hands as the price moved from $1.0958 to $1.1052. After reaching this level, selling pressure began to build.

Analyst Celal Küçüker reminded investors that XRP posted gains of over 500% in just one month two years ago, arguing that the possibility of hitting $7 by year-end should not be ruled out prematurely.

This outlook reflects the growing optimism among retail investors in recent days. Activity in futures markets also supports this sentiment. According to CoinGlass data, open interest in perpetual XRP contracts increased from 2.09 billion to 2.14 billion XRP as of Tuesday.

Glossary: Open interest represents the total number of outstanding futures contracts that have not yet been settled. An increase in this figure signals new capital or new positions entering the market, but it does not alone indicate market direction.

Institutional sentiment remains cautious

While retail participation is gradually recovering, institutional investors appear less enthusiastic. On Wednesday, spot XRP ETF outflows totaled around $7 billion. The generally weak flow of funds throughout the week reinforced this cautious stance.

Market caution is not limited to cryptocurrencies. Escalating geopolitical tensions in the Middle East have also weighed on risk appetite. On Wednesday, US forces launched strikes on 90 targets along the Iranian coastline. In response, Iran’s Revolutionary Guard targeted US bases in Kuwait and Bahrain. Qatar’s Prime Minister has since called for a diplomatic resolution between the parties.

Key technical levels take center stage

From a technical perspective, XRP continues to trade below major exponential moving averages. The 50-day average stands at $1.17, the 100-day at $1.28, and the 200-day at $1.49. This pattern suggests short-term upward attempts may face resistance.

Analysts remain divided on XRP’s next direction. While some project a move toward the $1.19 to $1.23 range based on Elliott Wave analysis, others warn that falling below $1.09 could trigger a test of deeper support zones. The Relative Strength Index hovers around 45, while the MACD histogram shows a slight positive divergence.

Throughout Thursday’s session, XRP formed higher lows and attracted buying interest near $1.0880 during pullbacks. In the short term, the $1.10 price level is seen as a key support, while resistance is expected at $1.1065, $1.11, and $1.13.