XRP price has less than 48 hours to make history and align with its historical precedent. Notably, the month of May has always been a bullish one for the coin.
XRP price has recorded some of its highest bullish rallies in May. However, as it stands, XRP could break the path of a notable milestone.
Can XRP Price Still Deliver Its May Average?
As per Cryptorank data, XRP price registered 378.1% growth in May 2017, the highest for the asset.
While the ecosystem is not looking forward to such a staggering growth figure in 2025, many are keeping their fingers crossed for XRP to hit its May average.
XRP’s average growth figure in May was 25.1%, and investors will smile if the asset can make one final push to meet this figure.
As of this writing, XRP price was trading at $2.17, representing a 4.73% decline in the last 24 hours. XRP experienced market volatility, which saw it decline from a peak of $2.29 to its current level.
However, market participants are still active with trading volume up by 37.13% to $3.64 billion.
This continued transaction of XRP suggests interest and confidence on the part of XRP investors.
If XRP price can repeat its history before May ends, a growth of 25.1% from its current level could cause it to close the month at $2.72.
XRP Traders Grow Cautious as Open Interest Declines
Meanwhile, other technical indicators, like XRP Open Interest, do not look good.
In the last 24 hours, investors have resisted committing funds to outstanding futures or options contracts.
There has been a significant 10.69% decline as market participants only committed 1.93 billion XRP worth $4.15 billion.
CoinGlass data reveals that traders on Bitget, Binance, and Bybit were among those confident enough to bet on XRP’s future outlook.
Bitget traders bet $1.20 billion on 556.99 million XRP, representing 28.86% of the total Open Interest.
Binance and Bybit traders committed $750.41 million and $686.26 million, respectively, for 349.26 million XRP and 319.07 million XRP.
This suggests that most investors are cautious and are waiting out the month to see what June offers for XRP price.
This pullback could be due to XRP’s inability to find stability above $2.60 in the last 30 days. XRP’s last attempt to reach this level was rejected, pushing it below $2.50.
Strategic Investments Fuel Ecosystem Optimism
Interestingly, ecosystem development, such as the $300 million bet by Webus International, a Chinese AI-powered mobility company, could trigger bullish sentiments.
As per the announcement, Webus aims to facilitate international payments for its chauffeur services.
Meanwhile, there is also interest from VivoPower, which is backed by Saudi Royal Prince Abdulaziz bin Turki Abdulaziz Al Saud. The firm looks to accumulate XRP in its digital asset reserve.
Additionally, XRP has landed a $10 million corporate acquisition by Hyperscale Data.
The acquisition is a preparatory move ahead of the 2025 third-quarter launch of its blockchain-based new lending platform.
The XRP ecosystem witnessed bullish sentiment following the XRP futures ETF launch on Nasdaq.
With the new product, anticipation of institutional investment remains high, which could fuel a rebound should there be buying interest.
The remaining hours of May will reveal whether these developments are enough to push XRP price to $2.72.
