#Altcoins Rally#  XRP soars with 200% surge in futures volume — targeting $4.50.

XRP futures volume has increased by more than 200% in the last 24 hours.

The XRP price chart is in a bullish pennant formation, targeting $4.50 by September or October.

XRP (XRP) has surged more than 10% since Thursday after Ripple and the U.S. Securities and Exchange Commission (SEC) agreed to drop their legal challenges against each other.

XRP futures volume surpasses Solana's

According to on-chain data, XRP futures volume increased by more than 200% in the last 24 hours, reaching $12.4 billion, surpassing Solana's $9.6 billion.

Increased futures trading volume, especially after major news events, typically reflects increased investor interest and speculative position-taking. In the case of XRP, this is the conclusion of the long-running SEC lawsuit against Ripple.

Open interest, or the total value of unclosed futures contracts, also increased by 15 percent, reaching approximately $5 billion.

XRP’s daily positive funding rate was at 0.01%, indicating that most investors were bullish, i.e., anticipating further gains.

Extensive long positions can also increase downside risk. This means that if the price declines from current levels, overleveraged investors could face liquidations, which could accelerate the correction.

XRP's cost base distribution data shows that the $2.80–$2.82 range has the largest supply cluster, with 1.70 billion tokens purchased at these prices.

This concentration could act as a key support level if prices pull back, as many profitable investors may defend their entry points.

XRP price technical analysis points to a 35% rally

XRP's rally caused its price to break above the upper trendline of a bullish pennant chart pattern. Volume also increased with this breakout, confirming the momentum behind the breakout.

Traditional analysts calculate the upside target of a bull pennant by adding the high of the previous uptrend to the breakout point.

For XRP, this points to a target above $4.50 by September or October, approximately 35% higher than current levels.

A potential US Federal Reserve rate cut in September could further increase appetite for riskier assets like XRP.

The $4.50 target aligns with the expectations of many analysts in recent weeks.

Among them, they predict that the XRP price will reach $5-$8 by the end of 2025.