Record open interest and strategic partnerships drive XRP growth:

XRP Price Surges Amid Ripple’s Strategic Moves, High Open Interest, and Market Momentum

The price of XRP has surged today, driven by Ripple’s strategic partnerships, record-high open interest (OI), and a market structure pointing toward potential parabolic growth. XRP’s price has increased by 25% in the last 24 hours, outperforming the broader cryptocurrency market.

Market Highlights

Data from Cointelegraph Markets Pro and TradingView reveal that XRP rose from a low of $1.079 on November 21 to a 33% increase, reaching a 42-month high of $1.438, before correcting to its current value of $1.386. The XRP/USD pair has posted weekly gains of 74% and monthly gains of 163%.

By comparison:

• The total cryptocurrency market capitalization recorded a modest 3.65% daily gain, reaching $3.3 trillion.
• Bitcoin (BTC) rose by 2.2%, nearing the significant $100,000 milestone.
• Ethereum (ETH) gained 8.2% over the same period.

Key Factors Driving XRP’s Growth

Ripple’s Partnership with Mercy Corps Ventures

Ripple has expanded its partnership with Mercy Corps Ventures to support entrepreneurs in emerging markets through a new initiative, Unlocking Opportunity. This program focuses on financial inclusion using the XRP Ledger (XRPL) for small businesses and entrepreneurs. It will also integrate other Ripple products, including the anticipated Ripple USD (RLUSD) stablecoin, aimed at use cases like savings, remittances, micropayments, and asset tokenization.

Record-High Open Interest (OI)

The expectation of a crypto-friendly regulatory environment under Donald Trump’s presidency has fueled growth in XRP-linked futures. OI reached an all-time high of $2.41 billion on November 22, a 10% increase from the previous day’s $2.18 billion. This coincided with a 25% price surge.

High OI reflects increased market activity, indicating a stronger likelihood of the price rally continuing.

XRP’s Price Target: $8 to $13

As of now, XRP is trading at $1.386, a 175% increase from its $0.50 level before the U.S. elections on November 5. The remarkable performance has led analysts to set ambitious price targets:

• Independent trader and analyst CasiTrades identified strong support levels at $0.88 and $0.98, offering ideal entry points for those who missed earlier gains. With a robust Relative Strength Index (RSI) showing “higher highs with no divergence,” the bullish momentum remains strong.“My long-term forecast remains unchanged: the $8-$13 target is within reach.”
• Cryptobull, another analyst, highlighted XRP’s battle with multi-year resistance at $1.40. A breakout above this level could lead to major resistance levels at $1.96 and $3.84.
• XRP Avengers have set an even higher price target, suggesting most investors may sell their XRP between $10 and $50.

Conclusion

XRP’s upward trajectory is fueled by Ripple’s impactful initiatives, robust market interest, and favorable macroeconomic sentiment. While long-term targets remain ambitious, breaking current resistance levels could pave the way for significant price milestones.