XRP's price action suggests a potential bullish trend, as indicated by technical patterns and the Relative Strength Index (RSI) hovering near 40%. Matrixport, a Singapore-based blockchain firm, believes that XRP has room to rally further, especially if the SEC reevaluates its case against Ripple Labs under the new US administration. Open interest in XRP perpetual and futures contracts has decreased, indicating traders scaling back leveraged positions or a cooling off of speculative trading. Bybit and Binance hold the largest share of XRP open interest. Additionally, the SEC has started the review process for a spot XRP ETF filed by Grayscale, with other firms such as Bitwise and WisdomTree also waiting for the SEC to review their proposals. Currently, XRP is trading at $2.59, down 2.76%.



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