XRP Price Rises with Growing Market Optimism
Ripple (XRP) is trading above $2.91 as of Wednesday. The crypto market started October positively. This trend may guide trading in the coming weeks. Retail traders are increasing their long positions on XRP. They expect the price to break above $3.00 soon.
Funding Rates and Exchange Reserves Show Investor Confidence
XRP futures traders are taking more long positions. The Open Interest (OI)-Weighted Funding Rate rose to 0.0099% from 0.0011% last Friday. This metric shows how many traders bet on price gains. A moderate rise signals healthy interest. Very high rates above 0.1% could warn of risk, but XRP’s rate is still safe.
Meanwhile, XRP balances on Binance have stabilized at about 3.57 billion tokens. This follows a rise from 2.92 billion XRP on August 31. Stable exchange reserves suggest that investors are confident and not rushing to sell.
Technical Indicators Point to Short-Term Bullish Trend
XRP is gaining strength above key moving averages on the 4-hour chart. These include the 200-period EMA at $2.91, the 100-period EMA at $2.88, and the 50-period EMA at $2.86. The Relative Strength Index (RSI) stands at 62, showing rising buying pressure. The Moving Average Convergence Divergence (MACD) also signals a buy.
Traders watch the descending trendline from mid-July and the resistance zone near $3.18. These levels will be important for XRP’s next moves.
