XRP is on the point of outbreak: course can quickly move towards $ 3

XRP shows more and more signals of a possible upward price trend. Both on-chain data and the increasing activity in the derivatives market indicate a renewed interest in the crypto coin. Large investors seem to strategically adjust their positions, while the demand for XRP is noticeable.

Everything indicates that XRP may be ready for a solid price increase. But which signals are based on this?

Derivaten market shows explosive growth

The activity at the derivatives markets has increased considerably in recent days. The trade volume for XRP-Futures increased by more than 10% to almost $ 10 billion. The open interest also increased, with an increase of 9% to around $ 5 billion.

The movement on the options market is even more striking: the volume rose by no less than 450%, while the open interest even increased by 480%. This strong growth in speculative positions indicates that traders are preparing for a possible price outbreak.

Crucial price levels in sight

At the moment the XRP race is around $ 2.35. Previously the currency tapped a level of $ 2.47, but was resolutely rejected there. Technically, XRP moves towards a critical zone between $ 2.40 and $ 2.48-an area characterized by concentrated liquidations, according to data from liquidation heatmaps from Binance, among others.

This area works as a magnet for price action. If the purchasing pressure persists, a short squeeze could follow, resulting in a possible fast price rise.

Technical breakthrough possible towards $ 3

The wider technical picture emphasizes the importance of this resistance level. The graph shows that XRP has recently broken through the purple resistance zone in the middle of the range. Even more important: the current level coincides with a downward diagonal trend line. A breakthrough above this line could be the starting signal for a rally towards $ 3 or even higher, provided that the momentum holds.

On-Chain Data points out undervaluation

Fundamental data also supports this positive scenario. The Network Value to Transactions (NVT) Ratio has fallen in the last 24 hours, which indicates an increase in network activity. This is often interpreted as a sign that the asset is undervalued – especially if this coincides with a bullish market sentiment.