XRP futures open interest (OI) has surged by 20%, indicating a potential price rally toward $6, supported by multiple technical indicators. Following a positive development in the ongoing legal case between Ripple and the US Securities and Exchange Commission, XRP's price climbed 6.8% from a low of $3.10 to a high of $3.31. The increase in open interest suggests that new investments are being directed into XRP, particularly from institutional traders. Currently, the daily funding rate for XRP is at 0.04%, with a 74% bullish skew among long/short accounts on Binance, reflecting rising confidence in XRP's price potential. XRP’s price charts indicate it is trading within a bullish pattern, and a daily close above $3.40 could lead to a target of $6.70, representing a 102% increase. The relative strength index (RSI) reading of 64 suggests that the market is not yet overheated, supporting the bullish outlook for XRP.

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