Altcoins XRP and SUI Poised for Significant Rallies Amid Bullish Technical and On-Chain Signals
Altcoins XRP and SUI Poised for Significant Rallies Amid Bullish Technical and On-Chain Signals
Recent market analysis points to substantial upside potential for both XRP and SUI. For XRP, a significant dip in open interest to May 2025 lows is historically a precursor to strong upward rallies, with analysts eyeing price targets up to $4.50. Meanwhile, SUI is showing strong bullish signals, with an analyst predicting a 260% surge to $9.00 based on a symmetrical triangle technical pattern and robust on-chain catalysts, including new all-time highs in Total Value Locked (TVL), Decentralized Exchange (DEX) volume, and stablecoin market cap. Both altcoins are currently under the microscope for potential breakouts in the coming weeks.
XRP Open Interest Returns to May 2025 Low, Potential Rally Ahead
According to the latest on-chain data, XRP's open interest has returned to a low similar to the one seen in May 2025. This dip in derivatives activity, highlighted by analyst PelinayPA on CryptoQuant, usually indicates the forceful removal of over-leveraged positions, leaving stronger hands in the market. Historically, after the OI bottomed in May 2025, a significant increase in trading volume pushed XRP price to $3.50. The current dip coincides with XRP trading around $2.50, a much higher valuation than during the previous low, suggesting history could repeat with another upward rally.
For a bullish scenario to unfold, PelinayPA identifies key zones. A sustained open interest increase of around 25% for several days could confirm a new move. A breakout above the first resistance in the $2.80-$3.00 range would strengthen bullish momentum, potentially leading to a price discovery phase above $3.30-$3.50, targeting $4.20-$4.50. Crucial support lies between $2.20-$2.40; a breach could lead to a short-term sell-off to $1.85 or even $0.60-$0.70 in a worst-case scenario. As of writing, XRP holds a valuation of about $2.61, reflecting an over 2% jump in the past day.
Analyst Predicts SUI Price Could Be Heading To $9
Despite a disappointing performance in 2025 after a strong start, the SUI price could be gearing up for a significant run-up. Market pundit Ali Martinez projects a $9 target for SUI over the next few months, representing an over 260% surge from its current price of approximately $2.51. This bullish outlook is supported by four key reasons.
Firstly, SUI is trading within a symmetrical triangle on the 2-day timeframe. This technical pattern often acts as a continuation signal, and Martinez expects SUI to break above its upper trendline, particularly if there's a sustained close above the $3.6 mark. Beyond technicals, three positive on-chain developments reinforce the bullish case. The Total Value Locked (TVL) on SUI has reached a new all-time high of $2.6 billion, signaling strong capital inflow. Decentralized exchange (DEX) activity volume also hit a new record of $20.33 billion in October, driven by genuine network activity rather than mere incentives. Lastly, the stablecoin market cap on SUI has climbed to $1.15 billion, underscoring the network's steady growth and strong demand. These robust fundamentals add weight to the potential for a new all-time high for SUI.