Ripple’s XRP Signal Confusion

Ripple-linked XRP has continued to give conflicting signals to investors in the broader cryptocurrency market. Despite bullish news of its potential in the U.S. Strategic Crypto Reserve (SCR), the price has not increased significantly.

XRP Open Interest Spikes Despite Price Drop

Data from CoinGlass shows a significant surge in XRP’s Open Interest in the last 24 hours. Investors holding the altcoin committed 1.43 billion XRP in open interest— a huge bet on the asset valued at $3.35 billion at current market prices.

This signals an uptick in market activity as participants continue to trade the coin in anticipation of a rally. Traders are betting on XRP to register an upward movement in price, supported by the Strategic Crypto Reserve and other developments.

Although the price has yet to see an increase, analysts insist that the market could shift at any time.

As of this writing, the XRP price was changing hands at $2.31, representing an 8.97% decline in the same 24-hour period when its Open Interest recorded a spike. The trading volume has also fallen by 10.43% to $7.38 billion.

These conflicting signs—between price and trading volume on the one hand and a surge in Open Interest on the other—have sparked concerns.

Will XRP Recover and Challenge $3?

Some traders expected XRP to leverage the SCR sentiment toward the $3 level, hoping it could retest its all-time high of $3.84. However, not all welcome XRP’s addition to the Strategic Crypto Reserve.

Despite this delayed growth, traders on Bitget, Gate.io, Binance, and Bybit have remained active in the crypto space.

Notably, Bitget led the total Open Interest trend with 28.89% of the total (414.95 million XRP, valued at $967.01 million). Gate.io followed with 23.62% (338.75 million XRP, worth $790.50 million). Binance and Bybit accounted for 18.08% and 16.14%, respectively. Binance had 259.54 million XRP valued at $605.23 million, while Bybit recorded 231.65 million XRP worth $540.45 million.

With traders betting on XRP futures, experts predict that this could trigger a recovery if interest continues and trading volume picks up.