XRP's open interest has plummeted 70% from $660 million in October to $203 million, coinciding with the low point preceding the 103% rally in April 2025. With $457 million in leveraged positions liquidated, the door has opened for buyers to enter. Key catalysts include the Federal Reserve's decision on March 18, progress on the CLARITY Act, and Mastercard's collaboration with Ripple on a new cryptocurrency project. A daily close above $1.50 could signal a demand recovery, but reaching the $3.00 target price would require massive capital inflows, a pattern historically observed following Bitcoin's breakout above $80,000.