XRP Technical Analysis: Bearish Scenario Unfolds
The XRP is currently clinging to the support level of $2.74, but the emerging bearish trend threatens its position. Analyses of capital flows and futures contracts reveal an unfavorable scenario for XRP in the coming days, with potential corrections toward $2.6 or even $2.4.
Open Interest (OI) data on XRP recently reached record highs, a situation typically associated with bullish prospects. However, the market has yet to confirm this positive trend. Additionally, the average cost marker highlights the critical threshold of $2.8 that needs close monitoring.
Market Sentiment and Future Outlook for XRP
The spot and futures markets for XRP indicate seller dominance, with declining volumes and marked resistance at $3.4. The weakness of Bitcoin, dropping below $110,000, further exacerbates pressure on XRP.
XRP futures contracts also show a selling phase from traders, reinforcing the bearish sentiment. Open Interest (OI) data confirms this downward trend over the past two weeks.
Technical Analysis: Liquidity to Recover
XRP has broken below its bullish trendline and is now attempting to reclaim it above $2.83. These liquidations can be positive signals as many investors panic-sell in anticipation of a deeper drop.
This is why it’s crucial to monitor the support at $2.74, which corresponds to the low point of the demand zone and smart money accumulation area. If smart money has decided to accumulate below this trendline after its liquidation, it means they are defending this support at $2.74.
Conversely, a drop below this support will drive Ripple toward the next defense zone at $2.4.
Although still too weak to draw definitive conclusions, the bullish divergence of the RSI on the 4H timeframe is an encouraging signal for a potential rebound toward $3.4.
In summary, XRP’s situation remains concerning with a persistent bearish trend. As long as Ripple maintains above the support levels of $2.74, a favorable outcome remains possible. However, vigilance is necessary given the negative market signals, which suggest a potential drop to $2.4 if the crucial support gives way.
How to Buy XRP on Bitget?
XRP still has a chance to reach a new peak in 2025, as Ethereum could lead the highly anticipated altcoin season. Here’s how to buy XRP in case of a rebound from this crucial support:
- Sign up on Bitget: Create an account on the Bitget platform and complete identity verification to access all trading options.
- Deposit funds: Fund your account with fiat currency (EUR, USD) via credit card, SEPA transfer, or by using stablecoins like USDT.
- Access the spot market: Go to the “Spot” section and select the XRP/USDT or XRP/EUR pair depending on your currency.
- Optimization with GetAgent: Activate GetAgent, Bitget’s AI tool, to analyze market trends in real-time. Configure strategies such as buying at the $2.74 support or setting alerts for a breakout of the $3.4 resistance. GetAgent automatically executes optimized orders, minimizing risks in a bearish market.
- Place a buy order: Choose a market order for immediate purchase or a limit order for a specific price. Confirm the transaction.
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