XRP Edges Higher as Bulls Gain Upper Hand

Ripple's XRP token is inching closer to a short-term breakout above $1.40, following its defense of support at $1.38 after a brief dip last week.

The uptick has been accompanied by a steady increase in long exposure among investors, with the XRP derivatives market showing stable Open Interest (OI) levels at 2.24 billion XRP on Tuesday.

This stabilization of OI is significant, as it indicates that new capital inflow and increased liquidity are supporting the token's recovery above $1.40.

Bulls have been increasing their risk exposure, with the OI-Weighted Funding Rate holding in positive territory at 0.01% since August 28, suggesting a bullish sentiment among market participants.