5.5 billion dollars XRP open interest indicates a positive reaction to the latest update of Paul Atkins

The price of Ripple (XRP) recovered to $ 2.59 on Tuesday, feeding it at an open interest of $ 5.5 billion and a SEC chair, indicating the regulation of the most soft encryption.

Paul Atkins indicates the most softened encryption regulation, XRP traders interact positively

Ripple (XRP) gained 1.5 % on Tuesday for trading near $ 2.47 after reaching its highest level during the day of $ 2.59, which represents a decrease from Monday. DIP followed the suspension of the American genius law, in light of the audit of Congress about the conflict of potential interests involved in ripples ’entities and the order of Donald Trump’s Crypto Reservation.

Fears were focused on the Dubai -based USD1 evaluation, in which Trump -related investors claim unannounced shares.

The ties of pressure on the Ripple to the executive order have given an uncertainty about the regulatory status of XRP, just days after a final settlement of $ 50 million in a long -term case against the United States.

However, the Tuesday speech delivered by SEC Paul Atkins, who was appointed during the Trump era, has sparked a positive transformation in the market morale.

Atkins emphasized the “Cooperation, Innovation forward” approach to regulating encryption, indicating the burden of compliance is lighter on compatible companies. Traders responded to the renovation of optimism, which prompted XRP recovery from the lowest level at $ 2.35.

The most softened organizational position of the newly appointed SEC chair in Trump has helped restore confidence between both retailers and institutions.

XRP open interest is $ 5.5 billion, which enhances a upscale thesis

according to Coinglass dataXRP’s open interest increased by 2.7 % to $ 5.49 billion on Tuesday, and reference traders are due to the re -introduction of jobs to benefit from escalating price procedures.

The increase is closely with the immediate price recovery, which enhances the opinion that the capital revolves back to XRP.

Despite the decrease in the size of daily derivatives by 43.76 % to 10.71 billion dollars, the increase in the open interest indicates fresh capital flows despite the replacement of the last rank.

It is worth noting that the percentage of Binance Trader Trader Long/short was 3.00, while the largest/broader short percentage (accounts) over OKX 2.13, both of which are preferred with a long force.

The volume of options also decreased by 51.15 % to only $ 2,220, and the open interest of options decreased by 4.45 % to less than a million dollars, and the permanent markets and futures contracts remain very active.

It is clear that traders are taking place from the shortest plays and hedging in long -trending bets.

Through major stock exchanges like Binance and OKX, long/short proportions exceed average and averages constantly 2.0, which is a rare alignment that shares the confidence of the trend in upscale expectations.

What next?

If the open interest continues to rise alongside positive organizational messages, XRP can re -test the resistance in the near term 2.70 dollars. The expectations of the most softened regulations can be paid under the provisions of Paul Atkins and Etf Altcoin expected in June, running about $ 3.00.

XRP price expectations: Eyes on $ 2.70, as the momentum builds higher than the main averages

XRP continues to show a strong technical setting as it enhances the main ups of the main intermediate moving and fluctuations.

XRP is currently trading at $ 2.5664, it is above the three simple averages (SMA 50 at $ 2.2359, SMA 100 at $ 2.2320, and SMA 150 at $ 2.1709), a structure indicating a clear export shift in the direction.

More importantly, the Ripple Price currently retains a comfortable midfield for the Keltner (KC) midfield at $ 2.3614 and approaches the upper range at $ 2.5718, indicating that a great continuity may be imminent.

The ups that form the ups on the midfield KC enhance the bullish momentum, supported by the BBP (Bollinger Band % B), which is currently reading 0.2885.

Based on these main indicators, the XRP price expectations indicate a short -term goal of $ 2.70, and depends on the ability to close decisively over the KC upper resistance.

However, if XRP fails to maintain higher than $ 2.57, the temporary decline is about 50-SMA near $ 2.23 cannot be excluded.

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Ibrahim

The encryption analyst that covers the derivative markets, macro trends, technical analysis and Defi. His business is characterized by in -depth market visions, price expectations and institutional research on digital assets.

Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.