Ripple (XRP) edges higher on Monday, climbing 1.54% on the day to trade at $2.11

In a notable market rebound, the cryptocurrency market saw Ripple (XRP) increase by 1.54% to reach $2.11 on Monday, demonstrating resilience even in the face of April drawdowns. The recent uptick in XRP price can be attributed to several factors, including the anticipated launch of XRP futures trading by Coinbase Derivatives and a rise in open interest, signaling increasing investor confidence. Technical indicators, particularly the Moving Average Convergence Divergence (MACD), are indicating a potential bullish trend, positioning XRP for a possible breakout towards the $3.00 mark. The broader cryptocurrency landscape also witnessed movements, with Bitcoin (BTC) rising to $87,440—a 2.71% increase—and Ethereum (ETH) gaining 3% to $1,636. The fear and greed index has risen to 39, a significant improvement from the extreme fear observed earlier, largely influenced by external market conditions, such as the pause in U.S. reciprocal tariffs announced by President Trump. The impending launch of XRP futures contracts by Coinbase is pivotal, potentially marking a significant turn for institutional investment in XRP. If successful, it could provide regulated investment opportunities in one of the most liquid digital assets available. Sentiment appears to be shifting in favor of XRP, with an increase in open interest to $3.24 billion indicating that new capital is flowing into the derivatives market. However, while the market appears bullish, the commentary reminds traders of the essential caution needed, as the downside risks remain, particularly if XRP falls below the $2.00 support level, which could trigger further liquidation and drop the price back to the lows of $1.62 seen in April. With the market in a state of cautious optimism, traders should be mindful of upcoming resistance levels and remain alert to shifts in market sentiment that could lead to volatility—either in a bullish or bearish direction.