XRP Resumes Accumulation Amid Oversold Conditions

XRP has been accumulating energy in recent times, with buyers resuming their purchases amid oversold conditions. This trend is evident from the net buying trend among long position holders, which suggests that investors are confident about the coin's prospects.

A chart shared by CryptoQuant author CW on X highlights this trend, showing a significant increase in open interest (OI) and net long positions. OI is a key indicator of market sentiment, as it shows whether new money is entering the market or existing funds are being traded around. In this case, the rising OI alongside net long bias is seen as bullish confirmation.

The surge in volume has confirmed that XRP is in a consolidation phase, awaiting a major breakout. Investors remain optimistic due to increased adoption of the coin, particularly in payments. Recent inflows into the spot exchange-traded fund (ETF) market also suggest renewed confidence by institutional players.