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XRP is trading lower this week, but derivatives data suggests traders are building long exposure rather than increasing short bets. Analysts say open interest has risen even as price weakens, pointing to positioning that could favor a rebound.
During the latest session, XRP fell to around $1.42, marking a weekly decline of nearly 4%. CoinGlass data cited in the report shows open interest reached $2.60 billion after a 7.51% daily increase.
The rise in open interest indicates new futures positions entering the market. Analyst CW said short positions have not increased during the downturn, adding that long positions are gradually rising despite the pullback.
“Long positions are gradually increasing despite the pullback.”
CW also noted that declining prices alongside rising open interest can reflect accumulation, with traders leaning toward long contracts rather than downside exposure. The report states that futures activity is showing reduced pressure from aggressive sellers.
At the same time, XRP recorded minor daily gains while holding weekly losses. The article characterizes derivatives participation as steady and says the futures market reflects a stronger long bias based on positioning data.
One veteran market analyst warned that XRP may remain in a corrective pattern, describing it as a possible Wave 2 or Wave 5 retracement. Under that scenario, XRP could test $1.51 before another move develops.
The article also references continued long-term projections for XRP. Forecasts mention $5 as a psychological level and discuss a potential move toward $10. It notes that XRP would need to rise more than 7x from about $1.40 to reach $10.
Crypto exchange Bitrue said XRP should already trade near $10, linking the target to ongoing discussions about Bitcoin valuations. The report adds that at $10, XRP’s market capitalization would approach $612 billion.
Bitrue said it has supported XRP since Ripple resolved its legal dispute with the SEC. Some community members cited institutional adoption and blockchain usage as growth drivers. The article concludes by reiterating that current derivatives data shows open interest holding at $2.60 billion while XRP trades near $1.42.
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