XRP Open Interest Nears $3B as Price Approaches $3 Resistance

XRP is currently experiencing significant market activity, with open interest in leveraged contracts nearing $2.92 billion as its price hovers just below the critical $3 resistance level, indicating a delicate balance between bullish and bearish forces. Despite recent volatility, XRP has shown notable strength, surging over 14% in the past week and briefly surpassing $3, although it continues to face resistance near $3.10, a barrier it has struggled to overcome for several months. Technical indicators such as a falling wedge pattern and expanding Bollinger Bands suggest potential for a bullish breakout, with analysts and market commentators projecting possible price targets up to $4 if XRP maintains momentum above $3. Ripple's strategic focus on partnering with small banks, as outlined in a recent whitepaper, may further bolster XRP's outlook by reinforcing its use case in the traditional banking sector. Overall, while XRP remains below its all-time high, combined market dynamics and technical signals position it for potential significant gains in the near future.