XRP’s Consolidation Gains Momentum with Surge in Derivatives Volume

XRP is consolidating at $2.34, with rising open interest and volume signaling a potential breakout. The surge in derivatives volume, exceeding $3 billion for the 24-hour period, suggests increased investor engagement as traders anticipate a technical breakthrough. The token’s price has remained stable above $2.28 support and is currently facing resistance at $2.35, hinting at consolidation. Chart analysis reveals a break out of a long-term downward trend channel. This newfound upward momentum is reflected in the RSI hovering near neutral territory and MACD data showing a balanced setup.