As investors reassess their risk appetite, the XRP currency has shown positive signs by surpassing the main support level of $3.00 – which previously represented strong resistance.
Technical stability and high open interest
Market data indicates that open interest in Ripple futures contracts still exceeds $7 billion, while the weighted funding rate remains in the positive zone, reflecting an optimistic mood among investors in digital derivatives.
The currency continues to maintain its position above the 50 and 100-day exponential moving averages, while the Relative Strength Index (RSI) remains just above the midpoint, supporting the scenario of continued upward movement.
Bounce after market fluctuations
Ripple recorded a significant rise at the beginning of the week, trading above the $3.00 level on Monday, after a week characterized by volatility influenced by the US Federal Reserve's decision to hold interest rates and President Donald Trump's decisions to increase tariffs, expected to take effect starting August 7.
Is exceeding $3.00 enough to confirm the breakout?
Many traders see a daily close above the $3.00 level as a confirmed signal for the start of a new upward wave for XRP, especially with the return of stability to the futures market after a period of sharp declines.
Data from CoinGlass indicates that the value of XRP futures contracts peaked at $10.94 billion on July 18, before dropping to $7.05 billion last week, and then slightly rising to $7.23 billion at the beginning of the current week.
Positive signs from financing and derivatives
The weighted funding rate has gradually decreased since July, from 0.0524% to the average level, before experiencing a slight rebound to 0.0090%, indicating a gradual recovery in trader confidence.
If the green line in the chart – reflecting open interest – remains above $7 billion and continues to rise, it could drive the price towards testing the previous high of $3.66, recorded on July 18.
Key monitoring levels
Current support: $3.00
Next support (in case of a break): $2.79 (EMA 50) – $2.58 (EMA 100) – $2.34 (EMA 200)
Next resistance: $3.33
Target resistance: $3.66 (highest recorded peak)
Ripple recorded an increase of 11% from its lowest point last Saturday at $2.73, indicating a return of bullish momentum. With prices remaining above the moving averages, the market is anticipating a clear breakout above the main resistance to support the upward trend.
