XRPUSD Ripple

XRP (XRP) price has recovered by almost 7% in the last 10 days, led by a crypto market rebound and the end of Ripple’s long-running legal battle with the US Securities and Exchange Commission (SEC).

However, several key support levels are at risk of being tested as onchain data suggests lackluster buying activity.

XRP/USD daily chart. Source: Cointelegraph/TradingView

XRP futures markets lean bearish

XRP price is currently trading 30% below its multi-year high of $3.40. When prices were at a similar level in November 2024, high spot market bids quickly pushed the price past the $3 mark.

However, XRP‘s spot and perpetual markets were subdued over the past two weeks. 

Key takeaways:

• Cumulative open interest (OI) in perpetual futures across major exchanges has been stuck below $4 billion since March 4. 

• This is way below the $7.86 billion peak reached on Jan. 18, just a day before the price hit the seven-year high of 3.40.

• XRP funding rates have been oscillating around zero over the last two weeks, remaining negative for most of the time.

• Negative funding rates mean shorts are paying fees to counterparties to keep their positions open, signaling bearish sentiment in the market.

XRP funding rates. Source: Velo

• XRP’s spot cumulative volume delta (CVD) — which measures the net capital inflows into the market — has remained negative over the last two weeks. 

• The negative CVD indicates that selling volume has accumulated more than buying volume, potentially signaling a bearish trend.

XRP spot CVD. Source: Velo

• All these indicators, therefore, cast doubt on whether XRP price has the legs to rise higher in the near term.

XRP whale activity muted

XRP whale activity has been quiet over the past week, with no significant buying or selling, according to data from Santiment.

• Wallets with 1 million to 10 million XRP have seen their total holdings remain flat at around 5.8 billion tokens since March 15. 

• This lack of movement from large holders can reduce market volatility, as whales often drive price swings with their trades. 

• Without their influence, XRP’s price has remained rangebound, reflecting a market driven by smaller investors’ sentiment and broader market trends.

XRP wallets holding 1M to 10M tokens. Source: Santiment

• However, muted whale activity could also signal indecision or a wait-and-see approach, potentially keeping XRP in a consolidation phase. 

• With no whale-driven momentum, XRP’s price will likely remain range-bound unless external catalysts emerge.

XRP price levels to watch under $2.40

XRP’s latest price recovery saw it reclaim key support levels, including the $2.40 psychological level.

Related: XRP, Solana lead altcoin ETP inflows as Ethereum slumps — CoinShares

Traders are now focused on key areas below this level, which XRP might revisit if current support does not hold.

Notably:

• XRP’s first area of interest is between the March 18 low at $2.22 and the previous range low at $1.90 reached on March 11.

• XRP will potentially target the liquidity cluster inside this range if support at $2.40 is lost.

• An immediate reprieve for the bulls would be a sharp reversal from this range, which will indicate buying interest below $2.40.

• Otherwise, XRP could drop lower to retest the Feb. 3 low around $1.76.

• Note that the 200-day SMA sits just below this range, suggesting a potentially strong demand zone just above $1.75.

XRP/USD daily chart. Source: Cointelegraph/TradingView

“$XRP is in a consolidation phase with support around $2.35 and resistance at $2.50,” said crypto analyst Gemxbt, adding that the neutral RSI at 51 and low volume indicate a lack of strong price action. 

“I suggest watching for a break of these levels for a clearer direction.”

XRP/USD chart. Source: GemXBT

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Grafico Azioni Ripple (COIN:XRPUSD)
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Da Mar 2025 a Mar 2025

Grafico Azioni Ripple (COIN:XRPUSD)
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Da Mar 2024 a Mar 2025