XRP breaks above $3.00 neckline, confirming a bullish cup and handle breakout with a $4.80 target.

Trading volume surges 60.32% to $47.62B, signaling strong market participation.

Open interest climbs 13.99% to $11.07B, indicating rising speculative activity.

Positive funding rate (+0.0524%) reflects bullish sentiment and dominance of long positions.

XRP has officially broken out of a long-forming cup and handle pattern, moving decisively above the key $3.00 neckline. The token is now trading at $3.51, confirming a strong bullish setup. This breakout sets the stage for a potential rally toward the next major target at $4.80, a level derived from the height of the cup formation.

Cup and Handle Pattern Hints at Extended XRP Upside

The cup portion of the pattern began forming in February 2025 and took several months to develop. A brief handle formed in June, completing the structure in early July. Following the breakout, XRP rallied sharply, validating the technical setup. The cup and handle is a widely recognized bullish formation, and when confirmed with high volume, it often signals the start of a strong upward move.

XRP is also trading comfortably above its key exponential moving averages, with the 20 EMA at $2.71, the 50 EMA at $2.46, the 100 EMA at $2.35, and the 200 EMA at $2.19. The alignment and upward slope of these moving averages reinforce the strength of the ongoing trend.

Also Read: Breaking – U.S. House Greenlights GENIUS Act, XRP Price Explodes 16%

XRP Derivatives Data Signals Strong Bullish Sentiment

On-chain metrics are backing the move. Trading volume has soared 60.32% to $47.62 billion, reflecting a massive influx of market participants and liquidity.

Open interest has also climbed 13.99%, reaching $11.07 billion, suggesting a growing number of open futures contracts and heightened speculation around XRP. These metrics signal that traders are not only buying spot XRP but are also actively engaging in leveraged positions.

Another key indicator is the OI-weighted funding rate, which has risen to +0.0524%. This figure signals a dominance of long positions, as traders are willing to pay a premium to maintain bullish exposure. While the rate remains within a healthy range, it points to strengthening sentiment in the derivatives space.

With a confirmed breakout, strong volume, rising open interest, and a funding rate favoring bulls, the token looks well-positioned for further gains. If the price can hold above the $3.00 support level, a move toward $4.80 could materialize in the sessions ahead.

Also Read: XRP Price Surges to $3.47: Can It Reach $15 or Even $30 in 2025?

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Filed under: Bitcoin - @ July 18, 2025 10:30 pm