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- XRP rises 4.84% to $2.91, but volume drops 14.54% to $5.94B, signaling weak trader participation overall.
- Resistance at $2.90 remains strong; failure to break it may trigger a drop toward the $2.50–$2.60 support zone.
- RSI at 47.64 and MACD below the signal line show bearish momentum is still active despite the daily price increase.
Ripple (XRP) is currently trading at $2.91 with an increase of 4.84% over the last 24 hours. The price has experienced a slight uptrend even though the overall trading has dropped. The current trading volume has dropped by 14.54% and is currently at $5.94 billion compared to the last period.
Source: CoinMarketCap
However, in the past week, there has been bearish pressure on XRP despite the current daily gains. During this period, the token has performed a 9.19% loss, suggesting continuous selling and caution among investors in the crypto market as a whole.
XRP Struggles at Supply Zone with $2.50 Support in Sight
Crypto analyst Kamran Asghar highlighted that the XRP coin is presently testing the downward fair value gap, alternatively, the supply zone of $2.80 to $2.90. Asghar points out that this region can also serve as a potent opposition. A downward movement could follow failure to break the resistance at the price.
Analyst noted that a rejection in this area can result in a failure to the level of support at $2.50 to $2.60. He underlines the significance of this price level in the short-term market direction. The region has been used as backup in previous sessions. Traders would be waiting keenly to validate the breakout or reversal.
Source: X
Also Read: XRP Drops to $2.79: Is a Rebound on the Horizon?
Bearish Signals Persist with RSI Below 50, MACD Negative
The RSI of XRP stands at 47.64. RSI-based moving average is at 60.07. This indicates movement of XRP upwards against lower levels. However, it is still below the 50 neutral line. The trend in the average is bearish, and indicates that there is not strong buying pressure.
The MACD line stands at 0.06490. The signal line stands at 0.14711. The value of the MACD histogram is -0.08222. This indicates that the bearish momentum remains active. The MACD is below the signal line. A bullish reversal has not been made yet.
Source: TradingView
XRP Open Interest Rises Despite Sharp Drop in Volume
According to CoinGlass data, the trading volume has declined by 29.26% to $8.37 billion. Nonetheless, the open interest has grown by 0.70% to reach $7.16 billion. It indicates that certain traders are taking a stand as the volume reduces. The open interest-weighted funding rate of the XRP is 0.0051%, which reflects a small tendency of longs.
Source: CoinGlass
XRP is at a crossroads. A bullish continuation may be registered by breaking above $2.90. Any such failure would invite fresh selling pressure. The following sessions will probably bring more clarity on the next step of XRP.
Also Read: Bitcoin on the Edge: Will $113K Hold or Trigger a Breakdown?
