Despite market volatility, XRP’s price struggles to find direction. Recent profit-taking by short-term holders has led to a dip in buying interest. However, several key indicators suggest a strong rebound could be imminent. 150% increase in Open Interest signals growing confidence from traders. XRP open interest has surged past $1.5 billion in just a week, with buyers and sellers actively trading around $21 million worth of positions. This surge in activity is reflected in the impressive increase of XRP futures’ open interest – jumping to $5.47 billion within the last day alone. Notably, over a seven-day period, this figure rose from $2.13 billion to $5.38 billion, representing a massive 152% increase. This rise coincides with XRP price climbing from $2 to $2.60, suggesting traders are increasingly bullish. Further bolstering the optimism is the shift in large investor activity – whales have reduced outflows, signaling a potential end to a downtrend or an impending upward move. However, a concerning factor remains: high XRP reserves on exchanges are nearing their one-month high, potentially increasing selling pressure. Meanwhile, some whales are also moving large amounts of XRP to exchanges, possibly anticipating a sell-off. Nevertheless, despite these bearish signs, none have been strong enough to derail XRP’s recent upward momentum. The hourly long/short ratio currently stands at 1.1227, indicating buyers hold the advantage with around 53% expecting price to rise. If this rally continues or forms new support levels at higher prices, XRP could experience an extended uptrend over the long term. A key catalyst for this potential is the SEC’s decision on spot XRP exchange-traded funds (ETFs) expected in June – a ruling that may significantly boost XRP price even further. However, the current rally faces resistance above $2.65 as sellers defend the surge. This has led to multiple higher highs in the price, with attempts to break through resistance channels. As of writing, XRP trades at $2.55, declining over 1.8% in the last 24 hours. Analyzing the 4-hour price chart reveals a bullish trend as bulls pushed the price above the $2.50 mark and are currently attempting to break through immediate resistance levels. A hurdle at $2.65 exists, but if XRP can overcome it, it could potentially reach $3, validating a clear upward trend. On the other hand, if the price is rejected at $2.65 and falls below the 100-day EMA (currently at $2.42), it could indicate a sideways range for XRP, possibly hovering between $2 and $2.6.