- XRP broke out near the $3.05 mark and buyers are strong since daily charts are indicating Fibonacci targets as high as $3.66.
- Market capitalization surpassed $189 billion, and the trading levels over 5.2 billion, which is evidence of a high level of liquidity and ongoing investor involvement.
- Elevated open interest shows traders remain committed, with positioning suggesting expectations of a larger breakout rally toward higher resistance levels.
XRP has moved above the $3.05 mark, raising expectations that the token could continue higher and test levels near $3.60.
Breakout Above $3.05
Analyst Ali reported that XRP has broken a long-term trendline and closed above the key 0.618 Fibonacci retracement at $3.06. This confirmed $3.05 as an important support level. The breakout candle was strong, showing solid buying pressure.
Charts now suggest a possible retest of the $3.05–$3.06 zone before more upside. If XRP holds this area, traders may look for higher targets. These include $3.18, $3.29, and $3.44, with an extended goal close to $3.66.
If momentum fades, XRP could fall back toward $2.90. A drop below that level would cancel the bullish setup and put $2.80 as the next support to watch.
Market Value and Trading Activity
BullishBanter noted that XRP’s market value has crossed $189 billion. This shows strong confidence from investors and renewed flows into large-cap coins. It also confirms XRP’s growing role in the global payments space.
The trading volumes are also high, and XRP has registered over 5.2 billion in the last 24 hours. This is a consistent action, and indicates continued interest in spite of price consolidation at around $3.00-3.20.
The strong market value and liquidity suggest that buyers are not just reacting to the breakout. Instead, they are positioning for more gains if support holds.
Open Interest and Trader Positioning
Over the past week, XRP’s open interest has stayed high, showing traders are committed to current levels. Unlike past consolidations, open interest has not dropped while price has moved sideways. This suggests many traders expect a bigger move soon.
High open interest often increases volatility. If price moves higher, it could trigger a strong rally. But if the breakout fails, it may cause quick liquidations and a fast drop. Traders are watching volume and RSI strength for signs of the next move.At the time of writing, XRP trades at $3.13, up 0.87 percent in the past 24 hours. Over the last week, it has gained 11.80 percent. The key question now is whether XRP can stay above $3.05 and continue its path toward $3.60.
