{"id":27148,"date":"2025-05-16T13:35:40","date_gmt":"2025-05-16T13:35:40","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27148"},"modified":"2025-05-16T13:35:40","modified_gmt":"2025-05-16T13:35:40","slug":"xrp-price-path-to-3-40-remains-intact-here-is-why","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27148","title":{"rendered":"XRP price path to $3.40 remains intact \u2014 Here is why"},"content":{"rendered":"<div>\n<p style=\"float:right; margin:0 0 10px 15px; width:240px;\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5Njg4NzUtNmYwYS03YmYzLTkwOWEtNzNjMDQxMDA2YWFj.jpg\"><\/p>\n<\/p>\n<p style=\"float:right; margin:0 0 10px 15px; width:240px;\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5Njg4NzUtNmYwYS03YmYzLTkwOWEtNzNjMDQxMDA2YWFj.jpg\" alt=\"XRP price path to $3.40 remains intact \u2014 Here is why\"><\/p>\n<p><strong>Key takeaways:<\/strong><\/p>\n<ul>\n<li>\n<p>XRP price is forming a bullish V-shaped recovery pattern targeting $3.40.<\/p>\n<\/li>\n<li>\n<p>A 53% surge in open interest to $5.06 billion signals bullish sentiment.<\/p>\n<\/li>\n<\/ul>\n<p>XRP (<a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/xrp-price-index\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">XRP<\/a>) price shows positive signs as a bullish technical pattern emerges on its weekly chart, coinciding with increasing open interest.<\/p>\n<h2>Increasing OI backs XRP upside<\/h2>\n<p>XRP price is down 2% over the last 24 hours to trade above $2.40 on May 16, but has gained 13% over the past two weeks as the broader cryptocurrency market recovered and XRP <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/explained\/what-is-open-interest-in-the-crypto-futures-market#:~:text=Open%20interest%20is%20a%20key%20metric%20that%20traders%20and%20analysts,well%20as%20possible%20future%20moves.\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">open interest<\/a> (OI) surged.<\/p>\n<p>The OI surged 53% from $3.61 billion to $5.53 billion between May 8 and May 14, before dropping slightly to $5.06 billion on May 16. Futures OI increasing alongside the price indicates bullish sentiment.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-05\/0196d8e7-a153-710b-aa4c-96f0938be786\" title=\"\" alt=\"XRP price path to $3.40 remains intact \u2014 Here is why\"><figcaption style=\"text-align: center;\"><em>XRP futures open interest. Source: CoinGlass<\/em><\/figcaption><\/figure>\n<p>Historically, significant increases in OI have preceded major rallies in XRP price. For example, the current scenario mirrors the XRP price pump in the run-up to <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/donald-trump-crypto-promises-take-time-inauguration-nydig\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">US President Donald Trump\u2019s inauguration<\/a> in January, leading to a 70% rally from a low of $1.99 on Dec. 31, 2024, to a <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/xrp-price-hits-seven-year-high-bullish-2025-outlook\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">seven-year high of $3.40<\/a> on Jan. 16.<\/p>\n<p><em><strong>Related: <\/strong><\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/is-xrp-price-rally-over-for-now\" rel=\"null\" target=\"null\" text=\"null\" title=\"https:\/\/cointelegraph.com\/news\/is-xrp-price-rally-over-for-now\"><em><strong>Is the XRP price rally over for now?<\/strong><\/em><\/a><\/p>\n<p>While XRP funding rates have flipped positive, they remain relatively neutral, around 0.0065%, indicating balanced market sentiment despite growing speculation.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-05\/0196d8e7-a5ce-7671-bd5e-d65a031c8316\" title=\"\" alt=\"XRP price path to $3.40 remains intact \u2014 Here is why\"><figcaption style=\"text-align: center;\"><em>XRP funding rates. Source: <\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/www.coinglass.com\/BitcoinOpenInterest\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\"><em>CoinGlass<\/em><\/a><\/figcaption><\/figure>\n<h2>XRP price chart paints V-shaped recovery<\/h2>\n<p>XRP\u2019s price action has been forming a V-shaped recovery pattern on the weekly candle chart since mid-January, as shown below.<\/p>\n<p>A V-shaped recovery is a bullish pattern formed when an asset experiences a sharp price increase after a steep decline. It is completed when the price moves up to the resistance at the top of the V formation, also known as the neckline.<\/p>\n<p>XRP appears to be on such a trajectory, and bulls need to flip $2.60 back into support in order to increase the chances of the price rising to $3.00. Higher than that, the next logical move would be the neckline at $3.40 to complete the V-shaped pattern. This would represent a 40% increase from the current price.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-05\/0196d8e7-aa47-758d-bbd5-f14d0ebac2a7\" title=\"\" alt=\"XRP price path to $3.40 remains intact \u2014 Here is why\"><figcaption style=\"text-align: center;\"><em>XRP\/USD daily chart. Source: Cointelegraph\/<\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/www.tradingview.com\/x\/lHx6X3eR\/\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The relative strength index, or <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/here-s-3-ways-the-relative-strength-index-rsi-can-be-used-as-a-sell-signal\" rel=\"\" target=\"_self\" text=\"null\" title=\"https:\/\/cointelegraph.com\/news\/here-s-3-ways-the-relative-strength-index-rsi-can-be-used-as-a-sell-signal\">RSI<\/a>, has increased from 43 to 56 over the last six weeks, suggesting the bullish momentum is picking up.<\/p>\n<p>Several analysts have also predicted further gains for XRP, as long as key support levels hold.<\/p>\n<p>Crypto analyst Egrag Crypto shared an optimistic price prediction for XRP, <a data-ct-non-breakable=\"null\" href=\"https:\/\/x.com\/egragcrypto\/status\/1923277020697436492\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">saying<\/a> that the breakout from a descending triangle in the daily timeframe could see XRP price retest the $3.40 zone.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-05\/0196d8e7-aeee-7735-9278-951411483652\" title=\"\" alt=\"XRP price path to $3.40 remains intact \u2014 Here is why\"><figcaption style=\"text-align: center;\"><em>XRP\/USD daily chart. Source: <\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/x.com\/egragcrypto\/status\/1923277020697436492\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\"><em>Egrag Crypto<\/em><\/a><\/figcaption><\/figure>\n<p>Market analyst Dom <a data-ct-non-breakable=\"null\" href=\"https:\/\/x.com\/traderview2\/status\/1923037331667210697\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\">emphasized<\/a> that XRP must hold $2.40, which sits above all its volume-weighted average prices (VWAPs) and all the major moving averages, to sustain a bullish continuation.<\/p>\n<p>XRP \u201csaw a clear break of the VWAP bands earlier this week and pushed right to the value area high (VAH) where the price stalled,\u201d the analyst said in his latest X analysis on X, adding:<\/p>\n<blockquote><p>\u201cFor immediate structure to stay intact, we want to see bulls defend these.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-05\/0196d8e7-c526-7290-b463-61299922c79d\" title=\"\" alt=\"XRP price path to $3.40 remains intact \u2014 Here is why\"><figcaption style=\"text-align: center;\"><em>XRP\/USD six-hour chart. Source: <\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/x.com\/traderview2\/status\/1923037331667210697\" rel=\"null\" target=\"null\" text=\"null\" title=\"null\"><em>Dom<\/em><\/a><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\" type=\"\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" label=\"Subscription Form: Markets Outlook\"><\/template>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Key takeaways: XRP price is forming a bullish V-shaped recovery pattern targeting $3.40. A 53% surge in open interest to $5.06 billion signals bullish sentiment. XRP (XRP) price shows positive signs as a bullish technical pattern emerges on its weekly chart, coinciding with increasing open interest. Increasing OI backs XRP upside XRP price is down [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27148","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27148"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27148\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}