XRP futures open interest rose more than 1% in 24 hours to $2.86 billion, with activity concentrated on CME and Binance. The token traded at $1.33 as of reporting, up about 1% from a 24-hour low of $1.32, while trading volume climbed 5%. The move comes as sentiment on social media turned unusually fearful, historically a sign that a short-term price floor or bounce could be near.
Bearish Sentiment Hits Three-Week Low
On May 26, crypto analytics firm Santiment reported the bullish-to-bearish comment ratio on social media fell to 1.1:1 — the most fearful reading in three weeks. According to Santiment, such extreme fear has preceded short-term price stabilization or a bounce in previous cycles. During periods of heavy optimism, known as the FOMO zone, whale activity tends to fade and prices often pull back — the opposite is playing out now.
Technically, XRP remains below its 50-day, 100-day, and 200-day moving averages, with its relative strength index near 41, suggesting the asset is neither oversold nor overbought. A break above a multi-month trendline could open the door toward $1.50, according to chartists watching the pattern.
Ripple-Circle Acquisition Rumor Surfaces Again
Speculation spread that Ripple is preparing to acquire stablecoin issuer Circle at an $11 billion valuation. The rumor traced back to an XRP Ledger Foundation post that said “Tomorrow’s going to be a great day.” No executives have addressed the speculation. Ripple CEO Brad Garlinghouse previously denied a similar Bloomberg report from last year that Ripple pursued Circle at a $4–5 billion valuation. Circle said at the time it was not for sale and focused on its initial public offering.
The XRP Ledger Foundation post was likely connected to a major mainnet upgrade scheduled for May 27, not an acquisition announcement. The upgrade is expected to bring new functionality to the XRP Ledger, though details remain sparse.
Ripple Co-Founder Wallets Show Activity
Separately, wallets linked to Ripple co-founder Chris Larsen became active again, with timing noted ahead of the US midterm elections. No further transaction details were available, and the moves did not appear to be directly tied to the price action or the acquisition rumor.
For now, the market is watching whether XRP can hold above its recent lows and break the descending trendline. If the $1.50 level comes into play, the open interest figures could climb further. But the unresolved question remains whether the Circle rumor has any substance — or whether it fizzles as it did last year.
