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Ripple Price Forecast: On-chain metrics signal bullish breakout as XRP holds $3
Ripple (XRP) shows signs of recovery, holding support at $3.00 on Thursday. Interest in the cross-border money remittance token has steadied over the past few days, underpinned by the futures weighted funding rate rising to 0.0090% from 0.0018% recorded on Tuesday. As traders increasingly leverage long positions in XRP, the growth in funding rate will continue to back positive market sentiment, increasing the probability of a short-term bullish breakout. The XRP Spent Output Profit Ratio (SOPR) metric has, over the last few weeks, edged lower toward a ratio of 1, following rampant profit-taking after the price hit a ... (full story)
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