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XRP faces a weak derivatives market as traders increasingly pile into bearish positions.
XRP remains largely in bearish hands amid a 2% intraday drawdown to $1.45
Ripple (XRP) edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.
The overall technical structure remains mostly bearish despite the MACD recently confirming a buy signal.
Mixed outlook as XRP retail demand weakens
XRP is struggling to sustain its recovery, leading to volatile price fluctuations as retail interest wobbles. After the XRP futures Open Interest (OI) increased to $2.56 billion on Monday, it narrows to $2.53 billion on Tuesday, undermining last week’s optimism that propelled the price to $1.67 on Sunday.
OI remains significantly below the record high of $10.94 billion in July. As OI fades, traders close positions in droves and refuse to open new ones, leaving XRP vulnerable to market pressures and risk-off sentiment
CoinGlass data shows that traders are increasingly piling into short positions, suggesting a lack of conviction in XRP’s short-term bullish outlook. The OI-Weighted Funding Rate holds at -0.0078% on Tuesday, remaining in the negative region since Sunday. Without follow-through momentum, price fluctuations will persist amid an overall bearish trend.
XRP hovers above $1.45 while sitting well below the 50-day Exponential Moving Average (EMA) at $1.72, the 100-day EMA at $1.93 and the 200-day EMA at $2.13. All three moving averages are descending, confirming a deteriorating technical structure and increasing the odds of prolonging the ongoing correction.
Technical outlook: Evaluating XRP market structure
The descending trend line from $3.66 (record high) would limit gains, with resistance seen near $2.10. Moreover, the Parabolic SAR indicator trails below the price at $1.21, offering initial support that, if lost, could extend the bearish sequence. On the other hand, the improving MACD momentum would favor a push toward Sunday's high at $1.67.
Meanwhile, the Relative Strength Index (RSI) at 40.76 remains below the midline on the daily chart, tempering the upside despite a recent momentum shift when the Moving Average Convergence Divergence (MACD) crossed above its signal line on the same chart. The expanding green histogram bars may prompt traders to increase their exposure, especially if XRP defends a short-term support at $1.45, tested on Monday.
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Firma de trezorerie Ethereum își continuă seria de achiziții cu cea mai mare achiziție săptămânală de ETH în termeni de tokenuri din acest an.
Firma a crescut, de asemenea, rezervele de numerar la 670 de milioane de dolari, alături de micile sale bitcoin
BTC
$66,790.05
stocuri și participații, inclusiv o poziție de 200 de milioane de dolari în Beast Industries. Activele totale se ridică la 9,6 miliarde de dolari, în timp ce cota de piață a BitMine din oferta totală de ETH a crescut la 3,6
BitMine a staked acum peste 3 milioane de ETH — aproximativ 69% din deținerile sale — care generează 176 de milioane de dolari în recompense anualizate, conform președintelui Tom Lee. Operațiunile de staking ale firmei generează în prezent 2,89% anualizat.