XRP continues to trade under pressure on Tuesday, hovering around the $1.300 mark after a modest recovery on Monday failed to gain traction. The cryptocurrency remains below key exponential moving averages, keeping the near-term technical outlook cautious.
Derivatives data presents a mixed picture. CoinGlass reports a long-to-short ratio of 1.02 for XRP, indicating a slight majority of long positions. The funding rate stands at 0.0101%, positive, meaning longs are paying shorts. While these metrics suggest some bullish sentiment, they do not guarantee price appreciation.
On the spot and futures markets, CryptoQuant's summary indicators point to sell-side dominance. The platform also flags large whale orders and elevated market conditions, though large orders alone do not clarify whether whales are accumulating or distributing.
Adding to the cautious tone, XRP spot exchange-traded funds recorded $3.61 million in net outflows on Monday, according to supplied ETF data. This withdrawal suggests reduced demand through those products at the start of the week. While a single day of outflows does not establish a trend, persistent outflows could add downward pressure.
In a separate development, Ripple's CEO Brad Garlinghouse announced Monday that the Office of the Comptroller of the Currency (OCC) has granted final approval to charter Ripple National Trust Bank (RNTB). This approval allows RNTB to manage Ripple USD (RLUSD) reserves, acting as a collateral trustee for RLUSD holders and expanding its digital asset custody services. This marks progress toward building regulated digital asset infrastructure.
From a technical perspective, XRP's daily chart remains weak, with the token trading below three key moving averages. The 100-day EMA at $1.333 serves as the first resistance level, followed by the 50-day EMA at $1.360 and the 200-day EMA at $1.369. Further horizontal barriers sit at $1.540 and $1.900.
Momentum indicators are subdued. The Relative Strength Index is near 40, below the neutral 50 level, while the Moving Average Convergence Divergence remains negative. Recent improvement in the MACD suggests downside momentum may be easing, but it does not yet confirm a bullish reversal.
Support is seen near $1.300, with a break below that level potentially opening the door to further declines. Resistance at $1.333 is the immediate hurdle for any recovery attempt.
This article is for informational purposes only and does not constitute financial advice.
