What Will Drive XRP Price to $3.29? Accumulation Strong, Say Analysts
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- XRP price target $3.29 in focus as analysts point to strong accumulation by investors now
- Bullish XRP momentum builds; break of key resistance critical for $3.29 price move today
- XRP technicals show strong buying pressure; analysts watch if XRP can hit $3.29 target
While the broader cryptocurrency market experienced a slight correction on Monday, XRP has emerged as a rare gainer today, May 13. XRP price rose almost 4% in the past 24 hours. This move extends XRP’s weekly gains to an impressive 19%, as it trades around $2.55 at press time. This performance makes XRP outperform market trends.
XRP’s daily trading volume has soared by 145%, exceeding $10.5 billion, according to CoinMarketCap data. This explosive jump in volume suggests renewed interest among retail and institutional traders in XRP.
Coinglass data further revealed that the futures open interest has surged 13.54% to $5.36 billion while options volume climbed nearly 89%.
The total derivatives volume has skyrocketed 213% to $19.65 billion. This uptrend in derivatives activity reflects growing bullish bets on XRP, likely in anticipation of a breakout. This is a clear marker as to why XRP trad…
The post What Will Drive XRP Price to $3.29? Accumulation Strong, Say Analysts appeared first on Coin Edition.
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