XRP breaks out of pennant pattern, aiming for 40% increase to $3.20

From Cointelegraph
July 03, 2025 11:09 am:

XRP breaks out of a “pennant” on the weekly chart, signaling potential 40% gains to $3.20. Positive developments and rising open futures interest support XRP’s breakout. Ripple’s US banking license application, SEC approval for Grayscale conversion, OpenPayd partnership, and increased odds of a spot ETF approval boost XRP’s momentum.

XRP price surged 7.2% to $2.31 on Thursday, driven by OpenPayd partnership and regulatory developments. Open interest for XRP futures grew 11% in 24 hours and 30% in the last 10 days to $4.75 billion, attracting more derivatives traders. Institutional interest is rising, aligning with previous OI spikes that preceded major price rallies.

XRP’s long/short ratio leans bullish at 68%, indicating confidence in its upward potential despite liquidation risks. XRP’s price action has formed a pennant pattern on the weekly chart, with a breakout suggesting a 40% rally to $3.20. Analysts predict short-term targets above $3, citing whale accumulation, institutional demand for a spot ETF, and regulatory clarity.

Read more at Cointelegraph: XRP Price ‘Pennant’ Breakout Eyes 40% Rally to $3.20 as Open Interest Jumps 30%