Ripple (XRP) Price Holds Above $1.90 Amid Market Decline
Ripple (XRP) is trading above $1.90 on Tuesday despite a broad drop in the cryptocurrency market. The market has faced negative sentiment in recent days, affecting many digital assets including XRP.
Low Retail Interest in XRP Futures
Retail demand for XRP remains low. Futures Open Interest (OI) was $3.71 billion on Tuesday, slightly down from $3.72 billion the day before. This shows weak participation from traders after the October 10 crash.
- The crash led to $610 million in long position liquidations and $90 million in shorts.
- On July 22, XRP’s OI reached a high of $10.94 billion when its price hit $3.66.
- The current low OI suggests investors doubt XRP’s short-term price strength.
- A strong increase in OI may be needed to push XRP above the $2.00 mark.
Meanwhile, XRP spot Exchange Traded Funds (ETFs) in the US have seen inflows for 21 days in a row, adding nearly $11 million on Monday. Total inflows now exceed $1 billion, with net assets reaching $1.12 billion. This trend shows growing interest in XRP through regulated investment products.
Technical Analysis: XRP Under Selling Pressure
XRP trades around $1.91 on Tuesday. It remains below key moving averages:
- 50-day EMA at $2.19
- 100-day EMA at $2.37
- 200-day EMA at $2.44
This bearish alignment limits price gains. The MACD is slightly below zero, indicating weak momentum. The RSI stands at 36.72, showing ongoing downside risk.
Resistance lies near $2.11, capped by a downward trend line from $3.09. A close above $2.11 could lead to a bounce above $2.00. Support is near $1.86, on a rising trend line from $1.45. If XRP falls below $1.86, it might drop toward April’s low of $1.61.
Technical analysis in this article was assisted by AI tools.
