• XRP trades at $3.00, marking a 4.2% weekly increase, while maintaining price stability within a narrow range.
• Open interest has reached nearly $3 billion, reflecting strong participation from both bullish and bearish market sides.
• The support is established at $2.95 and the resistance at $3.02, which is the short-term setup of XRP and the market equilibrium.

XRP(XRP) continued its recent positive trend throughout the week and trades around $3.00 having improved by 4.2 percent in the last seven days. According to CryptoQuant data, open interest of up to $3 billion indicates increased derivatives trade. At the same time, the weekly chart from TradingView indicates a tightening price structure, suggesting reduced volatility ahead of a potential move.

The token’s support level stands at $2.95, while immediate resistance has formed around $3.02. Price movements between these two levels show a controlled balance between bullish and bearish traders. Notably, this equilibrium has held steady despite fluctuations in broader market sentiment.

Open Interest Data Highlights Market Equilibrium

The surge in XRP’s open interest, now hovering near $2.92 billion, highlights increased engagement across futures markets. This figure aligns with the spot price consolidation near $2.96, as shown on CryptoQuant’s latest data. Higher open interest usually reflects strong participation but not necessarily directional conviction.

This balanced positioning is also evident in recent trading volume. While the number of active contracts has risen, neither long nor short traders have gained dominance. The result is a neutral environment where both sides maintain similar exposure levels. However, the consistency of elevated open interest shows sustained interest in XRP despite limited price expansion.

Moving to the next key factor, the narrowing price pattern on the weekly chart underscores market caution. The coiling structure forms between converging trendlines, compressing volatility while traders anticipate new catalysts.

Chart Structure Suggests Tight Range Formation

The weekly XRP/USDT chart displays a symmetrical pattern near the $3 mark. Each candle within this structure shows reduced range, indicating short-term compression. This development comes after earlier attempts to extend gains above $3.10, which failed to hold momentum.

Currently, buyers are defending the $2.95 region. Sellers on the other hand are hovering around the $3.02 price and forming a narrow but important price channel. This narrow trading pattern is indicative that traders are not going aggressive positioning as they await other stronger signals in the derivatives market.

Market Levels Define Next Price Direction

XRP’s near-term outlook centers on these clearly defined boundaries. At $2.95, the support is essential in sustaining new gains. On the other hand, short-term rallies have been repeatedly limited by resistance at $3.02.

Every time the price moves up and down within this range, open interest is following market value and totals the overall sentiment. To date, the short term structure of XRP is that of a well-balanced competition between buyers and sellers, in which they all hold their grounds at present stages.