The XRPUSDT Perpetual Futures contract is trading at $2.3199, showing a daily decline of -2.05%, with the mark price slightly higher at $2.3212. Over the past 24 hours, the price has ranged between a high of $2.4388 and a low of $2.3106, with a substantial trading volume of 655.41 million XRP or around $1.57 billion USDT—indicating active participation in the futures market.
Technically, XRP is currently in a downtrend, as price action remains well below all major moving averages: MA(7) at $2.3774, MA(25) at $2.4021, and MA(99) at $2.4919. This indicates strong selling pressure and lack of short-term bullish momentum. The recent candlestick pattern confirms bearish continuation with multiple red candles forming lower lows.
The RSI (6) is reading 16.39, which signifies an oversold condition. While this may attract buyers looking for a short-term rebound, overall trend momentum still favors the bears unless a strong reversal signal emerges. The increased volume during the recent drop adds further weight to the bearish scenario.
In terms of price performance across time frames:
Today: -3.76%
7 Days: -0.29%
30 Days: +10.13%
90 Days: -16.19%
180 Days: +113.70%
1 Year: +346.39%
Despite the current drop, XRP has posted impressive long-term gains, especially over the last 6 months and 1 year. However, in the short-term, bearish momentum dominates, and caution is advised for traders entering long positions without confirmation of trend reversal.
