XRP
XRP Reclaims $1.40 Range as Derivatives Open Interest Drops
An order-flow analyst notes XRP has reclaimed the key $1.40 mark, though short-term price gaps could prompt a retest before higher levels are reached.
XRP crossed back above the $1.40 threshold following a breakout on Sunday, returning to a level that served as the primary trading point of control over the preceding week and month. An order-flow analyst highlighted that the advance was driven primarily by short positions closing rather than an outright short squeeze, terming the move constructive structurally while warning that immediate price action looks fragile.
The token established support after rebounding from $1.34 last week, keeping it within a six-week trading range. The broader financial backdrop offered stability through steady equity opens, an unruffled VIX volatility index, lower crude prices, and balanced funding rates. In addition, open interest across XRP derivatives contracts dropped sharply as the spot price held ground, which the analyst noted leaves capacity for new leverage to enter.
Near-term price targets remain mixed. Sunday's rally left open price gaps between $1.37 and $1.39, which the analyst expects may be filled before any sustained advance toward the $1.50 range. Key overhead resistance sits between $1.43 and $1.46, with $1.45 flagged as the primary ceiling, while support is identified from $1.36 to $1.37 alongside primary range support at $1.34.
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