XRP Struggles Below $2.50 Amid Weak Market Signals
Key Takeaways
- XRP once again fails to break through the resistance level of $2.50 USD.
- The price is currently hovering around $2.37 USD – below the 200-day moving average.
- Open interest in XRP futures drops significantly – from $5.8 billion to $2.8 billion USD.
- Technical indicators point to short-term weakness.
- A breakout above $2.50 USD could pave the way toward $2.75–$3.00 USD.
Resistance at $2.50 USD Remains Firm
Over the past two weeks, XRP has made several attempts to break through the $2.50 USD level – without success. The price is currently trading at around $2.37 USD. The technical picture shows a clear rejection at this zone, accompanied by high selling volume. The area around $2.50 USD acts as a strong supply zone dominated by sellers.
Technical Indicators Signal Uncertainty
The price is slightly above the 50-day moving average (MA) at $2.37 USD, but well below the 200-day moving average at $2.52 USD. This setup suggests an unclear market direction. The Relative Strength Index (RSI) stands at 48.48 – a neutral value, but leaning slightly toward an oversold condition. If the price falls below the 50-day average, a decline toward the psychologically important $2.00 USD level is possible.
Drop in Futures Market Indicates Waning Interest
A look at the derivatives market confirms the uncertainty. Open interest – the total number of open positions in XRP futures – has fallen from $5.8 billion to $2.8 billion USD since mid-January. This decline shows that speculative market participants are increasingly pulling out or waiting on the sidelines. Trading volume also remains subdued, indicating a lack of strong market conviction.
What Does This Mean for the Price Outlook?
If XRP fails to hold the support level at $2.35 USD, a drop to $2.00 USD is conceivable. On the other hand, a solid close above $2.50 USD – ideally with high volume – could reverse the current picture. In that case, a rise toward $2.75 to $3.00 USD would be possible. However, this would require renewed buying interest, which is currently lacking.
Our Assessment
XRP is currently in a critical phase. Technical analysis shows resistance on the upside and a lack of momentum in the futures market. In the short term, selling pressure dominates. A sustainable upward trend would require clear catalysts – whether through market sentiment, regulatory developments, or fundamental news. Keep an eye on the $2.35 USD level. It could determine whether the next move is downward or upward.
Sources
- TradingView
- Glassnode
| Symbol | XRP |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $2.06 |
| 24h % | -0.51 % |
| 7d % | -4.53 % |
| 30d % | -13.34 % |
| 60d % | -21.43 % |
| 1y % | 293.55 % |
| Official Links | Website |
| Socials | X |
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