Ripple’s XRP was trading around $1.17 on Thursday, after slipping more than 3% over the previous 24 hours. The token remained capped below the upper boundary of a falling channel following a rejection at higher levels, with derivatives positioning pointing to a still-cautious market despite signs of stabilization.
While XRP’s near-term technical picture looks mixed, developments tied to Ripple’s RLUSD stablecoin—along with recent, though uneven, ETF-related flows—are adding a supportive backdrop that could matter if risk appetite improves.
Key takeaways
- Price move: XRP fell more than 3% in 24 hours to trade near $1.17, holding below key technical levels.
- Catalyst: Derivatives data from CoinGlass flagged a bearish tilt, while RLUSD expansion and integrations provided ongoing fundamental support.
- Key implication: Near-term upside appears capped unless XRP reclaims the $1.24–$1.30 resistance zone and holds it on a daily close.
- Watch levels: Renewed weakness could push XRP toward $1.1258, with further downside risk to the June 6 swing low near $1.05.
What drove the move
The immediate pressure on XRP appears to be driven more by positioning and technical rejection than by a single new market headline. The token is holding below the top boundary of a falling channel, a pattern that often limits rallies until price can break and sustain above nearby resistance.
On the derivatives front, CoinGlass metrics suggested traders were leaning bearish. The OI-weighted funding rate for XRP turned negative at -0.0090%, a configuration that implies short positions are paying longs—an arrangement commonly associated with cautious or risk-off sentiment in futures markets. CoinGlass also showed the long-to-short ratio at 0.9369, reinforcing the view that participants remain restrained rather than aggressively extending longs.
In addition, XRP futures open interest eased to $2.7 billion after reaching $2.8 billion on Wednesday. Open interest declining alongside a price pullback can indicate reduced conviction behind the latest move, leaving traders more reactive to support and resistance rather than committing to a directional trend.
Market reaction and what it may signal
Despite the bearish derivative signals, XRP is not accelerating lower—suggesting that some sellers are losing momentum at current levels. The article noted early stabilization in technical indicators, with the Relative Strength Index near 54 and the MACD lines trending slightly higher. That combination can reflect a transition from steep selling toward consolidation, though the signals were still framed as part of a corrective move within a broader downtrend.
Investors also appear to be watching whether ETF flows can counterbalance the technical resistance. According to CoinGlass’s ETF page, spot XRP ETF inflows were muted on Wednesday. However, the data cited inflows of 4.28 million XRP and 2.38 million XRP on Tuesday and Monday, respectively. Uneven ETF activity can matter at turning points, particularly when price is oscillating around key levels and traders are waiting for confirmation.
Beyond flows, Ripple-related adoption efforts are providing ongoing fundamental support. The company is expanding the use of its native RLUSD stablecoin. Earlier this week, Ripple invested in Flutterwave’s $3.2 billion Series E round, targeting integration of RLUSD and XRP Ledger technology into cross-border payments across Africa. The partnership described includes Flutterwave integrating RLUSD into its payments infrastructure to enable businesses to settle certain international transactions using digital dollars.
Separately, the cross-chain infrastructure platform Squid integrated Ripple’s RLUSD stablecoin, enabling users to swap into and out of RLUSD across more than 100 blockchains and over 20,000 digital assets through a single transaction. Those rollouts can strengthen the narrative for stablecoin adoption, but near-term price action still depends on whether technical resistance breaks.
XRP’s technical outlook: resistance and support
From a technical perspective, the XRP/USD 4-hour chart was described as bullish despite the recent retracement. The key issue is that XRP remains below key moving averages: approximately $1.28 (50-day EMA), $1.37 (100-day EMA), and $1.58 (200-day EMA). Remaining under those trend benchmarks typically keeps rallies vulnerable to fade.
Near-term resistance is flagged between $1.24 and $1.30, which aligns with the moving averages. The article suggested that a daily candle close above this range could open a path toward $1.37 and potentially $1.58. Conversely, failure to reclaim the zone could bring renewed selling pressure.
On the downside, if the bearish trend persists, XRP could test the first major support area around $1.1258 (the 4-hour TLQ level referenced). If that level fails to hold, the token could extend losses and retest the swing low near $1.05 set on June 6.
Bigger picture: what to watch next
With XRP at a crossroads—derivatives leaning bearish but stabilization signals emerging—market participants will likely focus on whether price can reclaim the $1.24–$1.30 resistance area and how futures positioning evolves from here. Next, traders may also watch for follow-through on RLUSD integrations and any change in spot XRP ETF inflows, alongside broader risk sentiment that can influence high-beta crypto assets.
