XRP Price Surges : Exceptional Data Points to Further Gains
The Ripple (XRP) token has recently experienced strong momentum, reaching a peak of $3.6510, representing more than a 125% increase from its April low. This momentum has propelled its market capitalization beyond $207 billion.
The data is indeed very favorable for XRP. According to CoinGlass, open interest in futures contracts on the token has reached an unprecedented level of $10.6 billion, up from just $3.7 billion last month. The majority of these positions are concentrated on platforms such as Bitget, Gate, Binance, Bybit, and CME.
Additionally, the market cap of Ripple USD (RLUSD), the stablecoin linked to XRP, has surged to an all-time high of $532 million. This figure is particularly remarkable considering RLUSD was only launched last December, and is now approaching the valuation of PayPal USD (PYUSD) at $847 million.
Another encouraging sign is that the total value locked on the XRP Ledger network has climbed 70% in 30 days, reaching $93 million. The stablecoin reserve has also hit an all-time high of more than $93.2 million.
Finally, the total assets of the Teucrium 2X Long Daily XRP ETF have also reached a record $506.6 million, demonstrating strong demand for the token.
Bullish Technical Outlook
Chart analysis confirms XRP’s upside potential. Technically, the token has managed to maintain its position above a key resistance level at $3.40, corresponding to January’s high and the upper part of a “cup and handle” pattern. This cup formation has a depth of approximately 55%, suggesting a target of $5.27 in the coming months.
In the short term, the MRC indicates an upside potential of approximately $3.96 potentially in July for Ripple.
Furthermore, XRP remains firmly anchored above the 50 and 100-day exponential moving averages, as well as the main support/resistance of the Murrey Math lines. This combination of technical factors supports a continuation of the bullish trend.
With network indicators at all-time highs and solid technical support, XRP appears well-positioned to continue its rally in the coming weeks. Savvy investors would do well to keep a close eye on developments surrounding this flagship token in the crypto world.
How to Buy XRP on Bitget ?
XRP is therefore well-positioned to reach new heights. Here’s a guide to easily obtain XRP on the Bitget exchange :
- Create a Bitget account : Visit the official Bitget website or download the mobile app. Sign up with your email or phone number, then complete identity verification (KYC) to unlock all options.
- Deposit funds : Log in and access the “Deposit” section. Add fiat currencies (EUR, USD, etc.) via bank card or wire transfer, or transfer cryptocurrencies from another wallet.
- Buy XRP : Go to the “Quick Buy” or “Spot Market” section. Select the XRP/EUR pair (or another available currency), indicate the desired amount, and confirm the purchase. You can also use limit orders.
