The Ripple (XRP) price is gathering market attention with bullish technical indicators, legal clarity, and institutional interest as it prepares for a potential breakout.
The XRP price trades below $2.10, with a crucial resistance level at $2.15. With new derivatives products and mounting speculation surrounding an XRP ETF supporting the rally narrative, this price point has become the crucial battleground for bulls and bears.
XRP futures’ listing on the Coinbase Derivatives and surge in the open interest (OI) contributes to the recent price momentum in the coin.
$2.15 in Focus: XRP Eyes Breakout Amid Technical Strength
The technical chart reveals the formation of the bullish triangle, often a precursor to a bullish breakout with a potential upside target near $2.50 if the pattern confirms. Recently, the Moving Average Convergence Divergence (MACD) turned bullish, and the Relative Strength Index (RSI) hovers in neutral territory around 58, leaving plenty of room for upward movement before entering overbought conditions.
Source: Trading view
The volume remains resilient; a spike in activity could act as the ultimate spark for a breakout at the current price juncture. XRP holds above its 50-day and 200-day moving averages, which support the bullish bias in the price. If the bullish momentum persists, there is the possibility of the golden cross coming ahead.
A stronger support, which has been tested several times, is located close to the $1.85 level. A breakout above $2.12, fueled by high volumes, could push the price toward $2.50–$3.00 in the short term.
XRP Futures Go Live On Coinbase And Open Interest Follows
One of the other notable developments in recent times has been the launch of XRP futures on the Coinbase Derivatives platform. In addition to providing market access, this action indicates a change in institutional perception that could be a major turning point for cryptocurrency.
Major companies seem keen to get back into XRP now that the legal haze has mostly gone, and Coinbase’s launch time couldn’t be more symbolic.
Additionally, an increase in the Open Interest (OI) activity is frequently a leading indicator of oncoming volatility, even though the price movement remains steady around the $2.0 mark.
Such a market scenario often speaks about the narrative rather than the price, which moves first.
While technicals and headlines steal the spotlight, the on-chain data is quietly turning bullish. A decline in XRP balances on established exchanges suggests that holders are transferring tokens off-platform, which is a well-known sign of accumulation. Meanwhile, transaction activity and DEX volume on the XRP Ledger have been ticking up.
If the price gives a day close above the $2.15 level, it could march towards the $2.50 level, followed by the $3.0 mark. On the other hand, a break below $2.0 could turn down the bullish sentiment.
