The market is bouncing back after Trump paused plans to raise tariffs, and recent inflation data (CPI and PPI) showed signs of slowing down

Because of this, altcoins are holding strong, and XRP is looking to make a big move past the $2 mark. With several indicators showing growth

The market saw some respite after Trump paused plans to raise tariffs, and recent inflation data (CPI and PPI) showed signs of slowing down. Because of this, altcoins are holding strong, and XRP is looking to make a big move past the $2 mark.

With several indicators showing growth, buyers seem to be in control and are pushing to send XRP’s price even higher.

XRP’s Open Interest Rises Amid Surging Demand

XRP buyers are getting hopeful for a strong price rally as the economy starts to cool down. According to data from Coinglass, XRP saw $5.21 million in liquidations over the past 24 hours. Out of that, $1.59 million came from long positions being closed, and $3.6 million was from sellers exiting their positions.

On top of that, there was a big XRP transaction today. Ripple moved 200 million XRP—worth about $402.78 million—to an unknown wallet. The transfer was tracked by Whale Alert, showing it came from Ripple’s wallet “rBg2F…1o91m” and went to “rP4X2…sKxv3”.

Some people think Ripple might be preparing for something big, possibly involving regulatory moves or large private trades (OTC deals). Others think it could just be for reorganizing their internal wallets. Ripple hasn’t said anything publicly about it yet.

This transfer also happened right after Ripple and the U.S. SEC asked the court to pause their legal battle, which could be a sign that they’re trying to reach a smoother resolution now that key parts of the case have been addressed.

On the flip side, the launch of the XRP ETF has caused a big jump in XRP’s trading volume and open interest. The data shows that open interest (OI) in XRP is up by almost 5%, now totaling over $3.1 billion. This launch has boosted confidence among investors, and there’s been a noticeable increase in the number of active wallets.

What’s Next for XRP Price?

XRP climbed back above the $2 level, but it’s now running into resistance at the 100-day EMA, which is around $2.1. However, buyers might soon overcome this level as buying pressure surges.

As of writing, XRP price trades at $2.04, surging over 4% in the last 24 hours.

If the price drops from the EMA100 level, sellers might try to push the XRP/USDT pair down to the key support at $1.73. Buyers are likely to strongly defend that area because if it breaks, the price could fall further to around $1.3.

On the other hand, if XRP manages to break above the 100-day EMA and holds above the descending resistance line, it would signal that buyers are preparing for further gains. In that case, the price might head up toward the resistance line at $2.6, where sellers will probably step in again.

Right now, the long/short ratio for XRP is at 1.2, which means more traders are betting that the price will go up. About 52% of positions are long, showing that overall sentiment is leaning bullish.

News data source: kdj.com

The above is the detailed content of The market is bouncing back after Trump paused plans to raise tariffs, and recent inflation data (CPI and PPI) showed signs of slowing down. For more information, please follow other related articles on the PHP Chinese website!