- XRP recently broke past the $1.40 mark, a level it hasn’t reached in over three years.
- Market indicators and metrics remain predominantly bullish, although the potential for a short-term pullback cannot be ruled out.
Over the last month, XRP has experienced explosive growth, surging by 165%. This momentum continues, with the token gaining an additional 24% in the past 24 hours. If the upward trend persists, XRP could soon surpass its all-time high.
To explore the token’s next potential move, AMBCrypto analyzed key market metrics and trends.
XRP closing in on all-time record
XRP has reached $1.4332 at the time of writing, a level not seen since September, 2021, reflecting renewed interest and strong market demand.
The token is now just $0.5337 shy of its all-time high of $1.9669. If the current buying momentum continues, XRP could soon break past this record.
However, a slowdown in momentum could trigger a pullback to a key support level at 0.9361, as identified on the chart.
Source: Trading View
Market metrics remain overwhelmingly bullish, which signals a strong probability of XRP pushing toward its all-time high in the near future.
XRP open interest hits all-time high
The Ripple token’s Open Interest has reached a record-breaking $2.47 billion, marking its highest level since inception, according to Coinglass. This milestone follows a 32.41% surge in Open Interest over the past 24 hours, reflecting heightened market activity and demand.
Open Interest, which measures the number of unsettled derivative contracts on an asset, is a key indicator of market sentiment. In this case, the soaring levels of XRP Open Interest signal strong bullish momentum.
Source: Coinglass
The surge is further reinforced by a wave of short liquidations. Over the last 24 hours, short positions worth $14.51 million were forcefully closed outpacing long liquidations.
This liquidation cascade was likely driven by a sharp 177.99% increase in trading volume, which now stands at $21.59 billion.
While market sentiment remains overwhelmingly bullish, resistance is surfacing as some traders lock in profits, creating temporary hurdles for XRP’s continued ascent.
Rally pauses as profit-taking increases
XRP has experienced a notable inflow into cryptocurrency exchanges, with Coinglass Exchange Netflow reporting a net positive of $23.72 million.
Source: Coinglass
Realistic or not, here’s XRP market cap in BTC’s terms
This movement suggests that market participants — spot traders — are transferring XRP to exchanges to take profits. Such activity often signals a short-term pause in bullish momentum.
However, if the sell-off remains temporary, XRP could resume its upward trajectory, positioning itself to break past its all-time high.
