What to know:
- XRP price holds the $0.93–$1.00 support zone as buyers attempt to build a bullish base.
- A breakout above the descending trendline could push XRP toward $1.88 and $2.90.
- XRP open interest remains elevated, signaling increased leverage and potential liquidation risks.
The XRP price is showing recovery potential as buyers defend key support and selling pressure fades. A breakout above the descending trendline could strengthen bullish momentum, but elevated leverage remains a risk. Maintaining support and reducing excessive leverage will be crucial for a sustained reversal.
At the time of writing, XRP is trading at $1.00 with a 24-hour trading volume of $1.01 billion and a market capitalization of $62.79 billion. Despite the 1.71% loss over the last 24 hours, the XRP price structure points to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: XRP Ledger Gains Institutional Momentum With Rising Whale Holdings
XRP Price Targets $2.90 as Key Support Holds
According to the crypto analyst XRP Updates, XRP is approaching a crucial technical inflection point as its prolonged correction appears to be losing momentum.
The $0.93–$1.00 region has emerged as a major support zone where buyers could attempt to build a stronger base. Holding this area may strengthen the recovery setup and reduce the risk of another significant downward move in the near term.
Source: XRP Updates’ X Post
Focus has now shifted towards the longer-term downtrend line of XRP, which continues to be an important resistance level for any trend reversal.
The upside break of this level can lead to a new focus on $1.88 and then on $2.90. If the upward move is extended, the larger technical target will be $5.86.
XRP Open Interest Flashes Warning for Bulls
The data from the crypto analyst Crypto Patel further highlighted that an alert from XRP is ringing in view of high open interest on futures, even though the price has been bearish recently.
Presently, the OI level stands at around 435.1 million XRP, which is way higher than the 30-day average of 403.6 million XRP. This shows that there is high leverage with a deviation of 1.20σ.
Source: Crypto Patel’s X Post
If there is another drop in XRP’s value, the highly leveraged trades will be under more pressure to force liquidation.
The forced liquidation process can bring about an increased sell-off in order to exit the losing trades. It is important for the bulls to defend the key levels and reduce their exposure.
What Comes Next for XRP?
For XRP to take its next step, it all comes down to whether buyers can hold and push back to the $0.93-$1.00 support area.
In case that happens, it will pave the way for $1.88 and even $2.90; however, it is important to note the high leverage. If support is broken, there might be some liquidations coming.
Also Read: XRP Ledger v3.3.0 Upgrade Gains Ripple Support for Bundled Fixes
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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