Key highlights:
- XRP whale inflows to Binance have dropped 34.4% since late June, reaching their lowest level in two months
- Open interest has climbed to $819 million, the highest level recorded this week, signaling growing trader participation
- XRP has reclaimed its 20-day Simple Moving Average (SMA), while widening Bollinger Bands point to increasing volatility ahead of the next resistance at $1.30
Open interest reaches weekly high
At the same time, activity across the derivatives market continues gaining momentum.
The network’s open interest has surged to approximately $819 million, marking the highest level recorded this week. Rising open interest generally indicates that new capital is entering futures markets as traders open fresh positions.
In most cases, when increasing open interest accompanies improving price action, it often reflects growing conviction among market participants rather than traders simply closing existing contracts.
However, elevated open interest can also increase the likelihood of short-term volatility if heavily leveraged positions begin to unwind. The steady rise suggests traders are positioning ahead of XRP’s next major directional move.
Source: CryptoQuant
Technical indicators favor another push toward $1.30
XRP’s technical outlook has strengthened following the latest breakout.
On the daily chart, the token has successfully reclaimed its 20-day Simple Moving Average (SMA), a level often viewed as an important indicator of short-term trend direction.
Meanwhile, the Bollinger Bands continue widening, signaling that market volatility is increasing after an extended period of price compression. Expanding Bollinger Bands frequently precede larger directional moves as buying and selling pressure intensifies.
Adding to the bullish case, XRP’s Stochastic RSI has yet to enter overbought territory, suggesting the current momentum may still have room to extend before exhaustion signals begin to appear.
If buyers maintain control and whale inflows remain subdued, attention will likely shift toward the $1.30 resistance zone, which stands as the next significant hurdle for the bulls.
Source:: XRP Price Eyes $1.30 as Whale Binance Inflows Drop 34% and Open Interest Hits Weekly High