- XRP formed a weekly bull flag pattern, hinting at a potential breakout toward $14.
- Open interest jumped 25% to $4.95B, signaling renewed bullish momentum in XRP futures.
- Analysts say holding above $2.48 and key VWAP levels could trigger a major rally.
XRP’s looking like it wants to break loose. On the weekly chart, it’s drawing what traders love to see—a classic bull flag. That’s usually a strong sign of continuation in an uptrend, and right now, XRP is inching toward that key breakout point. If it clears it? We might be staring down a run to $14—yeah, seriously.
Open Interest Jumps as Price Climbs
Fueled by Bitcoin’s massive surge to $111K+, XRP tagged an intraday high of $2.45 on May 22, up from $2.33 just the day before. That’s a decent 5.5% daily jump, but the real story is what’s happening under the hood—open interest (OI) in XRP futures spiked 25% to $4.95 billion in just 24 hours.
Why does that matter? Well, rising OI alongside price usually means traders are betting big—and bullish. It’s not the first time we’ve seen this either. Back in March, when Trump announced the U.S. would form a crypto reserve featuring XRP, Solana, and ADA, XRP’s OI exploded 46% in two days, and the price jumped nearly 36%—from $2.17 to $2.96.
Traders Turning Bullish Again
Perpetual contracts are flashing some optimism too. On May 22, XRP’s eight-hour funding rate climbed to 0.0126%, way up from just 0.0033% the day before—and way, way up from -0.0005% three weeks ago. That swing signals a sharp shift in sentiment. Retail traders, especially in the derivatives space, seem to be leaning long again.
So yeah, momentum’s building—and that bull flag pattern isn’t just for show. If XRP closes a weekly candle above $2.48, that’s a breakout. And the flagpole measurement? That suggests a target around $14.50. That’s nearly a 500% move from where we are now.
Technicals Lining Up
Other signs are falling into place too. XRP’s daily chart shows price sitting comfortably above its key simple moving averages—between $2.20 and $2.30—and the RSI has cooled off just above 50, leaving room for another leg up without being overheated.
Chartist Dom (you know him) pointed out that XRP has held above both the monthly and quarterly VWAPs at $2.32 and $2.27, respectively. He added that flipping the all-time high VWAP at $2.47 is the last real hurdle before XRP can truly run.
So, is $14 a stretch? Maybe. But with momentum building and the technicals leaning bullish—this might just be XRP’s moment.
