Dogecoin Open Interest Surges 5.24% to $1.3 Billion in 24 Hours

Monicah W

Dogecoin (DOGE) has displayed a sharp rise in market activity after its open interest climbed to $1.3 billion in the last 24 hours. According to the latest Coinalyze data, the Dogecoin open interest rose by 5.24% during this period. Rise in DOGE Perpetual Contracts Suggests Short-Term Speculative Frenzy Open interest (OI) helps show how much money is flowing into a specific market. A rise in OI indicates that more traders are taking positions. Also, it suggests growing interest in the digital asset, which could influence the next price direction for DOGE. What’s notable in this DOGE OI is that all the $1.3 billion was in perpetual contracts. This shows that short-term speculators are dominating the perpetual market for Dogecoin. As futures contracts with no expiry date, many traders choose them because they can get exposure to price changes continuously without any need to roll over contracts. Binance and Bybit Dominate… Read More at Coingape.com

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XRP Bulls Take the Wheel: Rising Long Bets Hint at Imminent Breakout Above $2.18

Over the past week, XRP’s price has remained range-bound amid the broader market’s recovery attempt. 

However, with a growing bullish bias toward the altcoin, XRP may be on the brink of breaking free from this range and trending upward. This analysis explains why.

XRP Futures Traders Bet on Upside as Long Positions 

The momentum shift towards the bulls has become evident, particularly within the futures market, where long bets on XRP are now surpassing short positions. This is reflected by the token’s XRP’s long/short ratio, which is currently at 1.07.

XRP Long/Short Ratio
XRP Long/Short Ratio. Source: Coinglass

The long/short ratio measures the proportion of long positions (bets on price increases) to short positions (bets on price declines) in the market. 

When its value is below one, it indicates that the number of short positions outweighs long positions in the market, suggesting bearish sentiment or a lack of confidence in the token’s future price performance. 

As with XRP, when an asset’s long/short ratio is above one, it means there are more long positions than short ones. It indicates that traders are predominantly bullish on XRP and hints at a higher likelihood of an upward breach of its narrow range. 

In addition, XRP’s relative strength index (RSI) has climbed steadily, indicating a gradual rise in demand for the token. The key momentum indicator, at 50.77, currently rests above the neutral line and is in an uptrend. 

XRP RSI
XRP RSI. Source: TradingView

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.

At 50.77, XRP’s RSI signals a shift toward bullish momentum. It indicates that buying pressure is starting to outweigh selling pressure, and the asset may be poised for further price increases.

XRP Eyes $2.18 Resistance as Bulls Look to Push for $2.29

XRP currently trades at $2.13, just 3% away from its next significant resistance level, $2.18. If buying pressure intensifies and the altcoin successfully flips this price point into a support floor, it could trigger further price growth. In this scenario, XRP could potentially climb to $2.29. 

XRP Price Analysis
XRP Price Analysis. Source: TradingView

However, if demand weakens and the bears regain control, XRP may remain range-bound. It could even break below the $2.03 support and fall to $1.99.

The post XRP Bulls Take the Wheel: Rising Long Bets Hint at Imminent Breakout Above $2.18 appeared first on BeInCrypto.

Traders Eye Massive XRP Price Rally as XRP ETF Approval Odds Surge to 85%

The post Traders Eye Massive XRP Price Rally as XRP ETF Approval Odds Surge to 85% appeared first on Coinpedia Fintech News

XRP ETF News: Excitement is mounting around XRP as traders gear up for what could be a historic price run in 2025.The buzz centers on growing optimism that a U.S.-based XRP exchange-traded fund (ETF) will soon get the green light, with Bloomberg analyst Eric Balchunas now assigning an 85% probability of approval. 

The boost in confidence follows recent leadership changes at the U.S. Securities and Exchange Commission (SEC), which oversees crypto regulation.

An XRP ETF would allow institutional investors to gain exposure to XRP through traditional markets, potentially opening the floodgates to billions in capital. Bitcoin ETFs, launched earlier in 2024, have already seen nearly $39 billion in net inflows. If XRP ETFs attract even a modest 15% to 30% of that volume, it could send XRP into a major rally.

For instance, a 15% share of Bitcoin ETF inflows would bring in about $5.85 billion, which could push XRP’s price to $12.23, representing a 450% gain from its current level of $2.22. If XRP ETFs pull in 30%, XRP could skyrocket to $22.20, a staggering 900% surge.

When Will XRP ETF Be Approved?

Momentum is building. Prediction platform Polymarket now places the odds of an XRP ETF approval at 80%, up sharply from 68% last week. Major asset managers—Bitwise, WisdomTree, and Franklin Templeton—have all filed proposals.

While the SEC has delayed its decision on Franklin Templeton’s XRP ETF to June 17, industry insiders believe that approval is becoming increasingly likely. Should that happen, XRP may follow in Bitcoin’s footsteps and witness a parabolic price explosion.

When will the XRP Price go up?

Market sentiment is turning increasingly bullish. We can expect XRP to reclaim its April peak of $2.36 in the short term, with fresh all-time highs likely in 2025. 

Popular trader Dark Defender sees the recent dip as part of a broader bullish pattern, while Allincrypto projects XRP could hit $19.27 in the longer run.

XRP Price Today: Key Levels to Watch

Despite the bullish ETF narrative, XRP price has dipped 5%, weighed down by weaker U.S. economic data. The altcoin is currently forming a bullish technical setup, and a breakout above $2.40 could send it straight to $3.74.

For this upside to materialize, XRP must hold its ground above the critical $2.20 support and overcome resistance at $2.80–$3.00. If it does, the altcoin could enter a fresh rally phase.

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The post Traders Eye Massive XRP Price Rally as XRP ETF Approval Odds Surge to 85% appeared first on Coinpedia Fintech News
XRP ETF News: Excitement is mounting around XRP as traders gear up for what could be a historic price run in 2025.The buzz centers on growing optimism that a U.S.-based XRP exchange-traded fund (ETF) will soon get the green light, with Bloomberg analyst Eric Balchunas now assigning an 85% probability of approval.  The boost in …