XRP is sitting at a tricky point as it tests support levels before any potential breakout. The token has been moving between its 100-day and 50-day EMA, holding only slight gains in September while volatility keeps traders cautious.
Ripple’s price has hovered between $2.83 and $2.92, with overall interest in the token staying muted throughout September’s bearish market. Data shows XRP is likely to close the month with just a 2.76% gain, a far cry from the 46% surge it delivered in September 2022.
Retail activity has calmed after last week’s turbulence, which triggered heavy liquidations when the price dipped under $2.70. Futures Open Interest has also cooled, averaging $7.58 billion compared to nearly $9 billion earlier in the month. If interest picks back up, traders believe XRP could push above $3.00, but falling OI would point to fading confidence in the token’s upside.
Funding rates show traders piling into long positions, which signals optimism but can also turn into a warning sign if the rate climbs too high. The MACD has been flashing bearish since September 22, suggesting that some investors may look to reduce risk.
A close below the 100-day EMA at $2.83 could trigger a deeper drop toward $2.70, with stronger support sitting around $2.61 and $2.50. For now, XRP remains in a tight range, waiting for momentum to decide the next move.
