XRP Price Prediction: Ripple's Legal Victory Continues to Boost Sentiment

The XRP chart has been lively since Ripple's latest victory against the SEC. That victory has instilled strong confidence in the market, sparking the bullish trend we saw at the beginning of July. From the end of May to mid-June, XRP was quite quiet, fluctuating around the level of 2.00 to 2.40 dollars. The situation changed in early July when aggressive buyers entered, pushing the price up. By July 15, XRP reached 3.66 dollars - the highest level in months - before sellers took control and a correction began. The price drop hit a low of nearly $2.80 in early August. Since then, the buyers have counterattacked, pushing XRP up to around $3.31 today. The short-term trend is leaning bullish, but there is still much to be done before the market can retest the high of $3.66. Volume The bullish trend in July was supported by a significant increase in trading volume, indicating real buying confidence following Ripple's legal victory. Recently, trading volume has cooled down – the latest 4-hour candle shows 3.64 million trades, with a predicted volume of 57.43 million. This is a sign that XRP is still attractive, but traders are waiting for a clear breakout before deciding to invest in larger volumes.

Open Interest – Detailed Review The open contract volume (OI) is currently at 338.04 million, slightly lower than the recent high of 338.19 million. Here are the reasons why this is important: During the bullish move to $3.66 in July, OI increased steadily with the price, meaning traders were adding new long positions, not just closing short positions. When the correction occurred at the end of July, OI dropped sharply. This indicates a wave of position closing – some traders took profits, while others cut losses. In the past few days, OI has increased again. This is a noteworthy change, indicating that traders are returning with new positions, possibly betting that the legal transparency of Ripple will continue to attract interest from institutions and individual investors. If OI continues to rise while the price remains above $3.28, this could pave the way for another bullish surge. Short-Term XRP Price Prediction Bullish scenario: Hold at $3.28 and push through $3.50 – there is a possibility to retest $3.66, with a breakout target of $3.80 or higher if both volume and OI increase. Bearish scenario: Lose the support level of $3.28 – drop to $3.00 and if unsuccessful, the likelihood of the price retesting $2.80 is very high. Neutral scenario: Range from $3.28 to $3.50 until a new catalyst emerges, such as capital flow from new institutions pouring into XRP after the court ruling. Important Levels to Watch Resistance level: $3.50, $3.66Support: $3.28, $3.00, $2.80 Ripple's legal victory is still driving market sentiment, but the market needs confirmation through continuous buying pressure. The changes in OI and trading volume in the coming days will tell us whether the buyers are ready for another bullish phase.