XRP shows signs of recovery, trading near the $1.50 psychological level after holding above the $1.10–$1.20 support zone. Analysis by trader Egrag Crypto highlights an ascending triangle pattern forming below resistance, suggesting a potential breakout. However, the token remains below key resistance around $1.75–$1.80 and major moving averages, indicating an overall weak trend. Derivatives market data shows declining volume and open interest as traders await a decisive move.
XRP is attempting a recovery but the overall trend remains weak. The cryptocurrency is trading below significant resistance points and major moving averages, including the 100-day and 200-day averages.
The token has moved toward $1.50 after finding stability above the $1.10–$1.20 support area. Momentum indicators like the Relative Strength Index show improvement, signaling stronger short-term momentum.
Analyst Egrag Crypto pointed out the formation of an ascending triangle pattern below a resistance zone of $1.65 to $1.70. The analysis indicates this formation offers a 65% chance of a breakout above that zone.
The analyst also noted that regulatory actions, such as the Clarity Act, could affect price direction. For a move toward higher targets near $2.50, XRP would need to close above the 200-day moving average around $2.10.
According to CoinGlass data, trading volume decreased by nearly 35% to $4.79 billion. Open interest also declined slightly to $2.77 billion.
The open interest-weighted funding rate sits at 0.0029%, reflecting balanced positioning among traders. The market appears to be awaiting a clear move above critical resistance levels before committing further.
