Ripple (XRP) Price and Market Update
Ripple (XRP) is trading near $2.10 after bouncing off support at $2.00. The token continues to get steady backing from institutional investors through spot ETFs listed in the US. However, this support has not led to a major price rise. Traders should be cautious due to XRP’s weak derivatives market.
XRP Spot ETFs See Consistent Inflows
Since November 13, US-listed XRP spot ETFs have attracted steady demand. On Friday, these ETFs drew about $10 million in inflows, marking 15 days of continuous inflows. Total inflows have reached $897 million, with net assets at $861 million.
- Four XRP ETFs operate in the US: Canary Capital’s XRPC, Grayscale’s GXRP, Bitwise’s XRP, and Franklin Templeton’s XRPZ.
- Steady ETF inflows add buying pressure and support a positive outlook for XRP.
Retail demand remains low. XRP futures Open Interest was $3.63 billion on Thursday, a small rise from $3.59 billion on Sunday. This is much lower than levels before the October 10 deleveraging event ($8.36 billion) and the July 22 record high ($10.94 billion). This drop shows low retail interest. Many investors are unsure if XRP will keep rising soon.
Technical Outlook: XRP Consolidating Gains
XRP trades at $2.09, below key moving averages. The 50-day Exponential Moving Average (EMA) is $2.27, the 100-day EMA is $2.43, and the 200-day EMA is $2.47. These averages slope down and act as resistance.
The Relative Strength Index (RSI) has risen but is still neutral to bearish at 45. A descending trend line from XRP’s high of $3.66 limits gains, with resistance near $2.60. The Parabolic SAR gives support near $1.90. Bears control the market while prices stay under the moving averages.
If XRP closes above the 50-day EMA at $2.27, it may move toward the $2.60 resistance. Support lies between $1.90 and $1.83. Holding this area could help XRP recover. A drop below this support could push prices toward April’s low of $1.61.
