• XRP gains attention as rumors swirl of BlackRock buying, even amid Bitcoin and Ethereum sell-offs.
• Strong support near $2 fuels speculation of a potential $10 breakout, with bulls closely watching.
• Trading activity shows a slight decline, but market indicators and funding rates suggest continued bullish momentum.

XRP is getting more attention because there are rumors that BlackRock might be buying it, even though Bitcoin and Ethereum are experiencing sell-offs. Analysts note strong support near $2, fueling rumors that XRP could rise towards $10. With momentum building, bulls are eagerly awaiting the crypto’s huge breakout.

At the time of writing, XRP is trading at $2.88 with a 24-hour trading volume of $6.53 billion and a market capitalization of $172.62 billion. Over the past 24 hours, XRP has seen a slight decline of -2.41%, but market excitement continues to build.

XRP Rally Possible as BlackRock Eyes ETF Move

Prominent crypto analyst JackTheRippler pointed out that BlackRock is selling hundreds of millions of dollars’ worth of Bitcoin and Ethereum. Meanwhile, rumors are floating that the firm may be buying XRP in preparation for a spot XRP ETF filing, sparking renewed interest in the token.

XRP Shows Strong Support and Growing Investor Interest

Crypto analyst Crypto Patel highlighted XRP’s potential during the current bull run, inquiring whether the coin could reach $10. “XRP is still 200% away from $10,” said Patel. “With solid support at $2 and increasing interest from the XRP community, this may be the breakout we’ve all anticipated.

Right now, XRP has significant support at $0.80 and resistance at $2.90. Market indicators suggest a bullish trend, and many investors are eagerly awaiting to see if XRP can reach its next significant milestone.

With progress gaining steam, XRP’s journey to $10 may be closer than many believe, making it one of the most-watched digital currencies today.

Also Read | XRP ETF Approval Delayed by SEC with Possible Green Light in October

XRP Derivatives Show Cooling Momentum

XRP’s derivatives market is indicating a slowdown as both positions and trading activity soften. Volume fell 37.00% to $6.48B, while open interest fell 1.31% to $7.51B. This is a sign that traders are backing off slightly, as fewer new positions are being initiated and overall activity is diminishing in the wake of recent volatility levels.

Conversely, the OI-Weighted funding rate is at 0.0100%, indicating a slight bullish bias. Although activity has slowed, the positive rate shows that long positions remain dominant, suggesting that bulls expect some upward support for XRP despite diminishing momentum.

Also Read | XRP Bulls Defend $2.80 Support, Eyeing Explosive $3.10 Breakout