Cryptocurrency XRP grew by 20% over the week

The cryptocurrency XRP XRP $2.14 XRP -0.45% Market capitalization $124.83 billion VOL. 24 hours $0.27 billion is showing rapid growth: over the past week, its price has risen by more than 20%, reaching a peak of $ 2.20 and stabilizing at $ 2.13. Starting from $ 1.60, XRP is gaining momentum amid growing investor confidence and clear bullish patterns in the market.

According to analysts, XRP’s trading volume increased by 42.18% over the week to $ 10.12 billion. The dynamics of derivatives looks even brighter: the volume of options trading grew by 204%, and open interest reached $ 486.6 thousand (87.5%). Such indicators indicate increased activity of traders who expect further growth.

The well-known analyst Ali Martinez drew attention to the formation of an ascending triangle, a classic bullish pattern. If XRP manages to break through the resistance at $ 2.22, the analyst believes that the price could quickly approach $ 2.40. This is confirmed by the current ratio of purchases and sales on decentralized exchanges, which is 1.5 — in favor of buyers.

Macro indicators also add to the positive trend: the financial ratio has remained elevated for the fifth day in a row, and the number of XRP tokens on exchanges has decreased to 0.2 743. This indicates a decrease in pressure from sellers and the willingness of investors to hold the asset without leaving their positions.

Despite the strong bullish signals, analysts emphasize that if the breakout of $ 2.22 is not broken, a pullback to the support level of $ 1.90 is possible. In general, the current market structure supports the scenario of further growth of XRP with a potential target of $ 2.50.