XRP has clawed its way back above the $1 psychological threshold, trading at $1.0057 after a 1% gain in the last 24 hours. The recovery follows a slide to $0.98, the token's lowest level since 2024, as investors weighed escalating Middle East tensions and awaited the latest FOMC minutes. Despite the bounce, market participants are showing little conviction, with futures open interest slipping and technical barriers stacking up overhead.
Why the hesitation?
Data from CoinGlass reveals that XRP futures open interest has declined by roughly 1% since Tuesday, now standing at $2.73 billion. This pullback suggests traders are closing long positions rather than adding to them, a sign that the recent uptick has not inspired confidence in a sustained rally. The muted reaction comes even as spot XRP ETFs recorded an inflow of $5.81 million on Tuesday, following a quiet session the prior day, indicating that institutional interest remains selective.
Ripple's announcement of a strategic partnership with Jeonbuk Bank, part of its broader Asian expansion, provided a fundamental catalyst. The collaboration will see the South Korean bank adopt Ripple Payments for corporate cross-border transfers, aiming for near-instant settlement, enhanced transparency, and lower costs. While this development strengthens Ripple's payments business, it has yet to translate into broad-based bullish sentiment for XRP.
Technical picture: resistance remains formidable
On the 4-hour chart, XRP continues to trade below its 50-day, 100-day, and 200-day exponential moving averages (EMAs), underscoring persistent selling pressure across multiple timeframes. A descending resistance trendline near $1.06 has repeatedly capped recovery attempts, and the Moving Average Convergence Divergence (MACD) indicator remains marginally negative, pointing to lingering bearish momentum. The Relative Strength Index (RSI) sits at 47, reflecting a fading bearish narrative but not yet a bullish reversal.
Immediate resistance is clustered between the 4-hour Transactional Liquidity (TLQ) at $1.03 and the descending trendline near $1.06, with the 50-day EMA around $1.07 adding to the ceiling. A sustained daily close above the $1.03-$1.07 zone would be necessary to ease selling pressure and improve the short-term outlook. If buyers manage that, the 100-day EMA at approximately $1.16 becomes the next target, followed by the 200-day EMA at $1.35 as a more substantial longer-term hurdle.
On the downside, XRP lacks clearly established structural support immediately below $1.00 on the 4-hour chart. This absence leaves the token vulnerable to a deeper correction if sellers regain control, potentially prompting investors to reassess their exposure across exchanges and crypto wallets.
Ripple's expansion in South Korea bolsters its cross-border payments narrative, but XRP's price action suggests that a decisive technical breakout—and an improvement in overall market sentiment—will be required before a sustained recovery can take hold. For now, traders appear to be waiting for clearer signals before committing to new positions.
This article is for informational purposes only and does not constitute financial advice.
