Crypto
XRP Extends Rally Above $1.50 Amid Stable Demand
Ripple's native token, XRP, has continued to gain momentum, rising above $1.50 as of Wednesday. This comes after a cooldown from last week's rally, and a daily close above this price would reinforce a neutral-to-bullish stance.
A resumption of the uptrend from mid-September could support the bullish outlook and encourage traders to take on more risk. However, continued stalling or a decline in Open Interest (OI) would indicate falling interest in XRP and may trigger an extended drawdown.
The derivatives market signals stable demand, with futures OI at 2.34 billion XRP on Wednesday. This is steady compared to Tuesday, but down from the 2.46 billion seen on Monday.