#July Market Forecast#

#XRP#
XRP recovery halts amid declining open interest
The correction from the highest level ever, which was achieved on July 18, can be attributed to the cryptocurrency price break last week when the price of Bitcoin (BTC) slightly dropped below $115,000.

Other factors that may have contributed to the sell-offs, which saw the price of XRP drop to the support level of $2.95, include potential profit-taking activities and a shift in market sentiment, especially with the release of key macroeconomic data from the United States this week.

John Isige John Isige
FXStreet
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Ripple Price Predictions: XRP aims for a 16% rise, but declining open interest paints a grim picture
Cryptocurrencies | 29/07/2025 15:15:00 GMT
The price of XRP rose slightly amid broad consolidation above the $3.00 level ahead of the Federal Reserve's decision on interest rates.
A sharp decline in the derivatives market indicates that open interest is changing market dynamics amid risk-averse sentiment.
The technical structure of XRP shows mixed signals: the MACD indicator is declining while the relative strength index stabilizes above the midline of 50.
The price of Ripple (XRP) is volatile, as it generally traded sideways on Tuesday, with support at $3.00 and short-term resistance at $3.20. Several attempts to recover the 16% drop from the token's all-time high of $3.66 have failed, amid increasing selling pressure and fading upward momentum.

XRP recovery halts amid declining open interest
The correction from the all-time high, which was achieved on July 18, can be attributed to a pause in cryptocurrency prices last week when the price of Bitcoin (BTC) dipped slightly below $115,000.

Other factors that may have contributed to the sell-offs, which saw XRP's price drop to the support level of $2.95, include potential profit-taking activities and a shift in market sentiment, especially with the release of key macroeconomic data from the United States this week.

The U.S. Federal Reserve will announce its decision on interest rates on Wednesday. While forecasts indicate that the Federal Open Market Committee (FOMC) meeting will keep interest rates unchanged in the range of 4.25% to 4.50%, Federal Reserve Chairman Jerome Powell's speech will provide key insights into the direction of the central bank's policy.

However, the reciprocal tariffs imposed by President Donald Trump are expected to take effect this Friday - an event that may lead to volatility, which could explain the decline in interest in the broader cryptocurrency market.

K33 Research pointed out that "the deadline set by Trump to determine tariffs on August 1, the Federal Open Market Committee meeting, and key employment data in the United States indicate a potentially volatile week for the markets."

The sideways movement of XRP's price over the past few days reflects a notable decline in open interest (OI) in the futures market. After peaking at $10.94 billion on July 22, the chart below shows a continuous decline, averaging around $8.97 on Tuesday.

OI represents the nominal value of open futures or options contracts, with a declining index indicating that traders' conviction in the bullish direction is faltering amidst low leveraged bets on the short-term rise of XRP.