XRP at a Crossroads ⚡ Support Test Before Breakout?

XRP fluctuates between 100-day and 50-day EMA support and resistance.

XRP maintains marginal gains in September, but volatility poses downside risks.

As traders flood into bullish positions, XRP Open Interest weighted funding rate stabilizes, signaling sentiment shifts.

On Tuesday, Ripple (XRP) trades between $2.83 and $2.92. Over the previous several weeks, interest in the cross-border token has been low, reflecting September's crypto bearishness.

XRP is expected to conclude September with marginal earnings of 2.76%, according to CryptoRank. The chart below illustrates that XRP has profited in three Septembers, with the largest gains of 46% in 2022.


XRP retail interest steadied at lower levels on Tuesday after a week of turbulence that caused massive liquidations as the price dropped below $2.70.

CoinGlass data shows that Open Interest (OI), the notional amount of existing futures contracts, averaged $7.58 billion, down from $8.96 billion on September 19.

If open interest stabilizes and rises, traders believe XRP can rise beyond $3.00.

Conversely, dropping or suppressed OI suggests investors are losing faith in the cross-border money remittance token and its ecosystem, preventing the price from growing over the tight range.


Traders eagerly buy long positions with high positive rates. This is initially favorable, but over 0.1%, it might warn of risk reduction. Since XRP OI-Weighted Funding Rate is inside the health range, traders are increasing their exposure in anticipation of a price breakthrough over $3.00.


Since the Moving Average Convergence Divergence (MACD) has been selling since September 22, investors may de-risk further. The blue line below the red signal line will indicate risk-off mood.


Losing territory below the 100-day EMA at $2.83 might accelerate the drop into the demand zone around $2.70, encouraging risk-on sentiment. Tacit support levels include the 200-day EMA at $2.61 and round-number support at $2.50.


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