XRP Strengthens on ETF Hopes

🟦XRP broke its descending trendline and consolidated above $3.04, establishing strong support in the $2.92–$2.99 zone. This triggered a wave of bullish sentiment: open interest in futures jumped to $8.67 billion, with long positions outnumbering shorts nearly 3-to-1. Liquidation data shows mounting pressure on sellers, suggesting momentum for a further move toward $3.20–$3.30.

🟦However, uncertainty remains as the SEC postponed its decision on Franklin Templeton’s XRP ETF until November 14, tempering some of the optimism. Still, strong institutional interest and Ripple’s recent initiatives reinforce XRP’s long-term outlook. If the price holds above $2.92, analysts expect a move toward $3.50; a breakdown below this support, however, could trigger another consolidation phase.