XRP has been showing impressive resilience as it holds steady above the $2 mark, with growing momentum fueled by an uptick in open interest and rising demand from buyers. The recent shift in the economic landscape, including signs of slowing inflation and a tariff pause by former U.S. President Donald Trump, has contributed to a healthy environment for altcoins, including XRP. However, with resistance levels looming, the key question is whether buyers will continue to push the price higher or if the market will face a pullback.

XRP’s Open Interest Shows Growing Demand

XRP’s open interest has surged amid a strong wave of buying activity. According to data from Coinglass, XRP saw a massive $5.21 million in liquidations over the past 24 hours, with $1.59 million coming from long positions being closed and $3.6 million from sellers exiting their positions. Despite the liquidations, the overall market sentiment for XRP appears bullish, particularly as XRP’s open interest has increased by nearly 5%, bringing the total to over $3.1 billion.

This surge in open interest indicates a strong demand for XRP as investors show increasing confidence in the cryptocurrency. Additionally, XRP’s trading volume has seen a noticeable spike following the introduce of the XRP Exchange-Traded Fund (ETF), which further fuels optimism about the token’s potential. Along with this, there has been a rise in active wallets, highlighting growing participation in the XRP market.

Ripple’s Mysterious 200 Million XRP Transaction

Adding fuel to the speculative fire, Ripple moved 200 million XRP—worth approximately $402.78 million—to an unknown wallet, according to Whale Alert. The transfer occurred between Ripple’s wallet “rBg2F…1o91m” and another address “rP4X2…sKxv3.” While Ripple has not commented on the transfer, it has led to various theories. Some believe that this could be an internal wallet reorganization, while others suggest the move might be tied to upcoming regulatory moves or large over-the-counter (OTC) deals.

Interestingly, this transfer occurred shortly after Ripple and the U.S. SEC requested a 60-day pause in their ongoing legal battle. This move hints at the possibility of a more amicable resolution to the legal dispute, which could further impact market sentiment positively for XRP.

XRP Price Action and What’s Next

XRP has climbed back above the $2 mark, but its price is now facing resistance at the 100-day Exponential Moving Average (EMA) around the $2.1 level. The resistance at this level has stalled the price momentarily, but the growing buying pressure suggests that buyers may soon push past this barrier. As of now, XRP trades at $2.04, showing a 4% gain over the last 24 hours.

If XRP can break through the 100-day EMA, the next key resistance level will be around $2.6, where sellers are likely to reenter the market. On the other hand, if the price drops from the EMA100 level, sellers could push the XRP/USDT pair down to the key support level at $1.73. A strong defense of the $1.73 support zone by buyers would likely prevent further declines, but a break below this level could see the price falling toward $1.3.

The long/short ratio for XRP currently sits at 1.2, indicating that more traders are betting on the price moving upward. With 52% of positions being long, the overall market sentiment remains bullish, reinforcing the potential for further gains if the key resistance levels are overcome.

Final Thoughts

XRP is holding strong above the $2 level, with growing open interest, rising trading volume, and an optimistic market outlook. While resistance at the 100-day EMA is a hurdle, buyers seem determined to push the price higher. However, the market is not without risks, and a drop below key support levels could lead to a pullback. As XRP continues to navigate these critical price zones, its ability to break past resistance will likely determine whether the current rally can sustain momentum in the coming days.