• XRP’s price surged past $2.53, with analysts targeting $3.01, signaling strong bullish momentum.
• Technical analysis indicates that Ripple might hit $4.40 as the purchasing tension guarantees a favorable outlook.
• The market capitalization of XRP stood at $149.36 billion with a 24-hour 49.55% surge in the trading volume.

XRP has surged past the $2.53 resistance level, signaling a strong bullish breakout. The technical action represents a turning point as analysts look toward the $3.01 target. With the price structure of XRP becoming more robust, the former $2.53 level of resistance turned into a key support level. Momentum remains building.

Fibonacci extensions predict that the run of XRP might not end at the $3.01 level. Investor sentiment is that the altcoin should continue surging towards the $4.40 area. Chart patterns also see a good bull structure in place with accelerating buying demand predicting a positive price action for Ripple in the immediate future.

XRP’s New Era: Analyst Insights and Wave Theory

Crypto analyst Dark Defender has pointed out XRP’s recent price movement within a greater cycle. Applying Elliott Waves analysis, they contend that Ripple has reached the end of its Wave 4 correction at $2.07 and is moving into the most powerful phase of Wave 5. If the pattern prevails, Ripple might touch $5.85 to $6.39 in the foreseeable future.

XRP’s current price of $2.57 represents a 3.81% daily gain, reinforcing the ongoing bullish trend. The cryptocurrency’s market capitalization has grown to $149.36 billion, this surge reflects growing investor confidence, with trading volumes increasing significantly in recent hours, demonstrating active participation across both retail and institutional traders.

Over the last 24 hours, the trading volume of Ripple increased by 49.55% to $5.53 billion. The growth indicates good liquidity and active participation of retail as well as institutional participants. Ripple’s fully diluted valuation is $255.11 billion as of now, reflecting its increased status in the market.

Open Interest and Trading Confidence Increase

XRP open interest increased by 2.7% to $5.49 billion. This uptick suggests that traders are re-entering leveraged positions in anticipation of further upward movement. The open interest growth follows the recent price bounce by Ripple, which confirms that more capital is being directed back into the cryptocurrency. 

Despite a 43.76% decrease in daily derivatives turnover, the growth in open interest shows new inflows of capital. Both OKX and Binance have witnessed significant spikes in long/short ratios, further demonstrating belief in Ripple upswing potential. With traders moving into longs, the prospects for Ripple remain positive.

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