XRP Mounts Comeback Against BTC, But Can It Last?

XRP has made a U-turn on its Bitcoin chart, reversing five days of decline from August 3. The token's drop caused it to reach oversold levels, as seen from the Relative Strength Index (RSI) on the daily timeframe. However, XRP has since rebounded from these levels, with the RSI recovering from 25 to 35 at press time.

This reversal does not guarantee a sustained rally, but it suggests that XRP may be starting to regain ground relative to Bitcoin. The token's open interest has also jumped 7% in the last 24 hours, rising to $2.52 billion.

XRP remains an outperformer among major cryptocurrencies in terms of percentage gains for open interest (OI). This increase suggests capital inflows as XRP traders bet on the token following recent developments in the Ripple and XRP ecosystem.