The XRP chart has been buzzing with activity ever since Ripple’s most recent courtroom win against the U.S. Securities and Exchange Commission (SEC). This victory injected renewed confidence into the market, triggering the sharp rally we witnessed at the beginning of July.
From late May to mid-June, XRP traded in a relatively quiet range between $2.00 and $2.40, as market participants adopted a cautious stance. However, early July brought a dramatic shift. A wave of aggressive buying pushed XRP to $3.66 by July 15 — the highest level in months — before sellers stepped in, sparking a correction.
The pullback found a bottom near $2.80 in early August. Since then, the bulls have regained some control, driving prices to around $3.31 at the time of writing. While the short-term trend appears bullish, the market still faces significant work before retesting the $3.66 peak.
Trading Volume – A Pulse Check
The July rally was backed by a substantial spike in trading volume, a clear sign of genuine buying conviction in the aftermath of Ripple’s legal win.
More recently, trading activity has cooled slightly. The latest 4-hour candle shows 3.64 million trades, with projected volume at $57.43 million. This indicates that XRP remains attractive, but many traders are holding back, waiting for a decisive breakout before committing larger positions.
Open Interest – The Telltale Indicator
Current open interest (OI) stands at $338.04 million, just shy of its recent high at $338.19 million.
Here’s why this matters:
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During the July surge to $3.66: OI rose steadily alongside price, signaling that traders were adding new long positions rather than merely closing shorts.
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During the late-July correction: OI dropped sharply, suggesting a wave of position closures — some locking in profits, others cutting losses.
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In recent days: OI has started to rise again, indicating that traders are returning with fresh positions. This could be a bet that Ripple’s clearer legal standing will continue attracting both institutional and retail interest.
If OI continues to rise while XRP stays above $3.28, the conditions could be set for another bullish leg.
Short-Term XRP Price Scenarios
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Bullish Case: Hold above $3.28 and break through $3.50, opening the door for a retest of $3.66. A breakout beyond that could target $3.80 or higher if both volume and OI expand in tandem.
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Bearish Case: Lose the $3.28 support, with a likely drop toward $3.00. If that level fails, a revisit of the $2.80 low becomes highly probable.
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Neutral Case: Consolidation between $3.28 and $3.50 until a new catalyst emerges — for example, fresh institutional inflows into XRP following the court ruling.
Key Levels to Watch
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Resistance: $3.50, $3.66
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Support: $3.28, $3.00, $2.80
Bottom Line:
Ripple’s courtroom win remains a powerful driver of market sentiment, but sustained upside will require consistent buying pressure. The next few days of trading volume and open interest data will be crucial in determining whether the bulls have enough momentum to push XRP into another breakout phase.
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