XRP continues to cope with the down pressure while short positions dominate the derivative market.
According to Correglass data, the long / short ratio for Ripple (XRP) is 0.9205, which means that more traders bet on a drop than a rally. For almost two weeks, this ratio remained less than 1, indicating that the lowering feeling took over.
Even if the open interests dropped by 1.92%, the volume of derivatives jumped from 35% to 3.28 billion dollars. This indicates that traders are always active to us, but especially on the short side, expecting a descent.
Technically, XRP is negotiated at $ 2.14, just above a crucial level of support of $ 2.05. If this level is broken, there may be more serious short -term drops. The relative resistance index is neutral to 47 but is gradually down. As it has not yet occurred, there is still room for a new drop.
The divergence of the average mobile convergence has recently become negative, suggesting that their downward momentum could be built. At 11 years old, the average directional index, which measures the trend force, is extremely low, indicating that there is currently only a restless lateral action rather than a strong trend. The majority of medium -sized and medium -term moving averages also flash up the sales signals.
A great decision could be on the horizon, as shown in the narrowing of Bollinger’s bands. Compression, however, occurs at the same time as XRP is testing the support, which could suggest that a drop rather than a rebound is more likely.
Although the short -term configuration is down, the fundamentals of XRP are always solid. A major regulatory burden has recently been lifted while Ripple has resolved its legal dispute with the Securities and Exchange Commission. In addition, there is an increasing interest in a possible fund on the XRP exchange fund, which Bloomberg analysts predict will be approved by the end of 2025 with 85% of opportunities.
ETF approvals could increase institutional demand and considerably increase prices. Meanwhile, the offer of $ 4 to 5 billion in Ripple to buy a circle of stablecoin transmitter, although without success, shows the ambitious growth objectives of the company.
Macroeconomic challenges exist, however. The feeling of risks is distorted by President Trump’s pricing policies and sticky inflation. The decision of the interest rate of the federal reserve of May 7 and the data of May 13 of IPC also draw the attention of attention because they have the potential to have an impact on the movements of cryptocurrency assets, including XRP.
If XRP loses $ 2.05, it could fall to $ 1.98 to $ 2.00, where the 200 -day support is. However, the Bulls did not come out. If XRP can bounce from this range and withdraw above $ 2.20, it could return the momentum in its favor. But for the moment, the chances do not support this movement.
