XRP Price Might Soon Reclaim $3.84, Shiba Inu Forms Death Cross Again, Bitcoin Has 25% Chance of Hitting $125,000 This September — Crypto News Digest

XRP Open Interest surges past $9 billion, price holds above $3

XRP is in hyper-bullish mode as traders lock $9.05 billion in open interest.

• XRP price surge. XRP has climbed from $2.76 to $3.10 in the past month (+12%)

In the last 30 days, the XRP price has climbed from a low of $2.76 to reclaim the $3 price level. With the coin flashing bullish signals in the current altcoin season, there are $9.05 billion reasons for a sustained rally. The XRP community is optimistic about a positive price outlook.

Notably, according to CoinGlass data, XRP’s open interest has soared by 6.54% in 24 hours. This uptick represents 2.92 billion XRP committed to the futures market of the asset. The total value of this volume stands at $9.05 billion — a clear indication that investors’ confidence remains strong. 

• Key levels. XRP remains ~19% below ATH ($3.84) but is holding above $3 support

While XRP’s open interest indicates the value of unsettled derivatives futures contracts, the spike by over $9 billion signals how bullish investors are on the coin and their willingness to bet on an upward climb moving forward. 

As of press time, the XRP price was trading at $3.10, which represents a 3.2% increase in 24 hours. This leaves it about 19.02% away from its all-time high (ATH) of $3.84. The coin has shown resilience in the past as it consolidated above the $3 support.

25% chance Bitcoin hits $125K in September

The leading cryptocurrency has a relatively small chance of hitting $125,000 this year, according to Polymarket bettors.

• Current odds. Bettors see a 25% probability of BTC crossing $125K this month.

According to Polymarket bettors, Bitcoin, the flagship cryptocurrency, currently has a 25% chance of surpassing the $125,000 level as early as this September. Earlier, the top cryptocurrency by market cap reached an intraday high of $117,934 on the Bitstamp exchange. It is down roughly 5.5% from its all-time peak of $124,517, which was reached on Aug. 14. 

• Bullish sentiment. Some traders predict a run to $130K within two weeks.

There are also some uber-bullish traders who believe that the price of the leading cryptocurrency could potentially reach $130,000 within less than two weeks. The odds of Bitcoin soaring all the way to $150,000 in September currently stand at 1%.

Shiba Inu forms death cross on hourly chart as price stalls

Shiba Inu posts a bearish death cross, but reversal might not be far away.

• Technical setup. The 50-hour MA crossed below the 200-hour MA.

Dog-themed cryptocurrency Shiba Inu has recently created a death cross, this time on its short-term chart, the hourly chart. On Shiba Inu's one hour chart, the short-term moving average (the 50-hour MA) has fallen below the long-term moving average, confirming a death cross.

• Sentiment. The death cross suggests short-term bearish momentum.

This technical pattern comes as the Shiba Inu price has stalled amid profit-taking after a major rally in the past week. Shiba Inu fell for two days in a row after reaching a high of $0.00001484 on Sept. 13. Bulls attempted a relief rally in yesterday's session but could not sustain it, with Shiba Inu falling again in the early Thursday session.