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$XRP made a U-turn on the $XRP/$BTC chart, reversing after five days of decline from August 3. The drop caused $XRP to reach oversold levels on its Bitcoin chart, as seen from the RSI on the daily timeframe.
The $XRP/$BTC pair has subsequently rebounded from oversold levels; the RSI fell as low as 25 before recovering to 35 at press time. While the reversal does not guarantee a sustained rally, it suggests $XRP may be starting to regain ground relative to Bitcoin.
However, $XRP is not yet out of the woods, given the bearish RSI reading of 35 on the Bitcoin daily chart. If $XRP continues to gain strength against Bitcoin after rebounding from oversold levels, it might suggest that the worst of the recent relative weakness has passed.
$XRP open interest jumps 7%
$XRP remains an outperformer among major cryptocurrencies in terms of percentage gains for open interest (OI).
In the last 24 hours, $XRP open interest rose 7%, to $2.52 billion, while Bitcoin and Ethereum saw OI drops. Bitcoin and Ethereum fell 2.48% and 1.95%, respectively; open interest for Dogecoin and BNB token rose nearly 3%. Solana was also a standout, with its open interest soaring 6.60%.
The rise in open interest suggests capital inflows as $XRP traders bet on the token following recent $XRP and Ripple developments.
This week saw the release of $XRP Ledger version 3.3.0, which introduced several new amendments alongside bug fixes and build improvements.
At the time of writing, $XRP was up 1.75% in the last 24 hours to $1.04 but down 1.60% weekly.
Ripple, XRPL gain momentum
A recent report by Token Relations highlighted that July brought new momentum and milestones across Ripple and the $XRP ecosystem.
Ripple opened its University Digital Asset Xcelerator in Brazil as part of its University Blockchain Research Initiative. The company also signed up as a launch partner for OpenUSD, Open Standard's stablecoin that offers free minting and burning, as well as a revenue-sharing governance model.
Ripple was named one of the world's top fintech companies on the CNBC and Statista 2026 list. The XRPL ended July with more than 1.7 million agentic transactions after having crossed the 1 million mark on July 15.