The XRPUSDT Perpetual Futures contract is trading at $2.1537, marking a +1.24% gain for the day, with the mark price at $2.1539. Over the last 24 hours, XRP reached a high of $2.1588 and a low of $2.0758, with a robust trading volume of 555.95 million XRP, equivalent to $1.17 billion USDT.
From a technical standpoint, XRP is positioned just below the 99-period moving average ($2.1632) but is trading above both the 7-period MA ($2.1394) and 25-period MA ($2.1154). This indicates a bullish short-term trend, though upward movement could face resistance near the longer-term average.
The Relative Strength Index (RSI) is at 71.57, suggesting the asset is approaching overbought territory, which could trigger short-term consolidation or a price correction.
In conclusion, the XRPUSDT perpetual futures market is experiencing bullish momentum with higher lows and strong buying volume. While the trend remains positive, traders should remain cautious of a potential pullback as RSI levels enter overbought conditions and the price nears resistance from the 99-period MA.