XRP Could Break Toward $3.60 as Futures Open Interest Climbs to $7.94B, BBVA Integrates Ripple Custody

• XRP trades at $2.99, pressing triangle resistance with a $3.60 breakout target.

• Futures open interest rises to $7.94B, signaling elevated derivatives activity and potential volatility.

• BBVA’s integration of Ripple Custody strengthens institutional trust in XRP’s custody and service ecosystem.

XRP price nears $3 breakout; futures open interest hits $7.94B — read analyst targets, key levels, and how BBVA’s Ripple Custody tie boosts XRP outlook now.

What is XRP’s current breakout outlook?

XRP price is trading near $2.99 at the top of a descending triangle; if the token confirms a breakout, analysts place the next target near $3.60. Short-term support sits at $2.75 while failure below $2.65 would invalidate the bullish scenario.

How are derivatives and open interest affecting XRP’s outlook?

Derivatives metrics show clear accumulation: futures open interest climbed to $7.94B, up sharply from sub-$2B earlier this year. Higher open interest suggests traders expect larger moves and are positioning accordingly. Rising OI during consolidation often precedes extended breakouts or fast corrections.

Why is $3.60 the next target for XRP?

Technical work shows a descending triangle breakout measurement and Fibonacci extensions pointing toward $3.60 as the immediate upside target. Analysts identified intermediate Fibonacci checkpoints between $3.10 and $3.40 where price could consolidate or retest momentum.

What are the key support and invalidation levels?

Short-term horizontal support is at $2.75, with pivotal support observed at $2.90 across moving averages. A drop below $2.65 would negate the bullish setup and likely push XRP back into longer consolidation.

XRP trades at $2.99 near triangle resistance with analysts eyeing $3.60 breakout as futures open interest rises to $7.94B.

• XRP trades at $2.99, pressing triangle resistance with a $3.60 breakout target in focus.
• Futures open interest hits $7.94B, showing traders prepare for volatility after long consolidation.
• Ripple Custody integrates with BBVA, boosting confidence in XRP’s broader ecosystem expansion.

XRP is trading near $2.99 and is positioned against the upper boundary of a descending triangle on the 12-hour chart. Horizontal support is visible at $2.75 while resistance has extended from late July into September. Analysts are watching closely to see if the token can confirm a breakout that may extend toward $3.60.

How did analysts explain the breakout scenario?

Analyst Ali Martinez noted that a confirmed breakout from the descending triangle targets $3.60, with Fibonacci levels from $3.10–$3.40 likely to act as short-term resistance. These levels commonly serve as logical pause points for profit-taking before continuation.

These levels remain important because they often act as temporary resistance zones before continuation. Price movement during the past 24 hours shows XRP fluctuating between $2.95 and $3.02, closing back at $2.99. Buyers consistently defended the $2.90 area, which aligns with several key moving averages.

Failure to hold above $3.00 could see XRP fall back toward $2.75, while a decline below $2.65 would cancel the bullish setup. Market capitalization stands at $178.66 billion with a daily trading volume of $4.29 billion, indicating robust liquidity for active levels.

How does Ripple’s corporate activity influence price action?

Fundamental developments matter: BBVA confirmed integration of Ripple Custody into its crypto services, a move that strengthens custody options and institutional trust. Institutional adoption news can amplify moves when paired with technical breakouts.

Derivatives and broader outlook

Coinglass-style data shows XRP futures open interest at $7.94B, a significant increase from earlier in the year. While higher OI does not predict direction, it signals that traders are stacking positions ahead of potential large moves after extended consolidation.

An observation from technical commentators points to $3.00 acting as pivotal support following the breakout attempt. Fibonacci extensions from the larger consolidation suggest upside potential as high as $4.50 in an extended scenario, with $3.66 flagged as a likely retest area once momentum builds.

Frequently Asked Questions

What price level confirms an XRP breakout?

A confirmed breakout would be signaled by a decisive close above the descending triangle and sustained trading above $3.00, with $3.60 set as the immediate measured target.

How much open interest is in XRP futures now?

Futures open interest currently registers at approximately $7.94 billion, up significantly from levels below $2 billion earlier this year, indicating elevated derivatives participation.

Key Takeaways

• Immediate target: $3.60 is the next measured upside if XRP confirms a breakout.
• Derivatives signal: $7.94B futures OI indicates traders expect larger moves.
• Fundamental support: BBVA’s Ripple Custody integration strengthens institutional custody options and confidence.

Conclusion

In summary, XRP price at $2.99 sits at a pivotal technical junction: a confirmed breakout could reach $3.60 while failure below $2.65 would negate bullish prospects. Combine technical levels, rising futures open interest, and institutional custody developments to form a balanced, risk-aware outlook. Stay updated on price action and OI to time entries and manage exposure.