As the crypto market shows signs of fatigue, Ripple (XRP) worries investors. The psychological threshold of $2 is now under threat, with technical indicators pointing towards a retreat. Is this merely a correction or the start of a more significant downturn? Full analysis.
While the cryptocurrency market remains volatile, XRP, one of the major altcoins, is showing concerning signals. These signals are based on the latest technical analysis and data from derivative trading platforms. The long/short ratio of the Ripple native token stands at 0.9205, indicating a strong dominance of bearish positions. This bearish bias has persisted for nearly two weeks.
Despite a 1.92% decrease in open interest, the overall volume of XRP derivatives has surged by 35% to reach $3.28 billion. The activity remains strong, driven mainly by short sellers.
Currently, XRP is trading at $2.14, just above a strategic support at $2.05. If this level is breached, a drop towards $1.98 or even $2.00 could be possible. Technical indicators reinforce this bearish scenario:
Most of the short and medium-term moving averages also signal selling points. While the short-term technical outlook is concerning, the fundamentals of XRP and Ripple remain positive in the long run:
However, the global macroeconomic environment remains a risk factor, with Trump’s protectionist policies and persistent inflation.
XRP is currently navigating through a challenging phase, with a dominance of bearish positions in the derivatives market. A clear breakdown below the $2.05 support could pave the way for a more pronounced decline.
However, savvy investors will note that the fundamentals of Ripple and XRP remain strong in the long term. Positive catalysts such as the potential launch of an ETF are noteworthy. The French market will need to closely monitor this trend in the coming weeks. In conclusion, traders this week will need to navigate between opportunities and risks. Platforms like Bitget provide access to XRP, but the volatility calls for diligent risk management. You can create an account, deposit funds (euros or other cryptos), and start trading.
Passionate about the crypto world, he explores the blockchain ecosystem to extract the most essential insights. With his expertise in SEO and web writing, he transforms news and technical analysis into clear, engaging, and impactful content. His goal? To help investors better understand the opportunities and challenges of the crypto market.
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