XRP Edges Higher, Seeks Breakout Above $1.40

Ripple's XRP token is edging closer to a short-term breakout above $1.40, following its defense of support at $1.38 after a brief attempt to breach selling pressure at $1.50 last week.

The uptick has reinforced the broader bullish outlook, but holding below this level could trigger an extended sell-off amid investor exhaustion.

Bullish traders are increasing their risk exposure in XRP futures, with the OI-Weighted Funding Rate remaining positive at 0.01% since August 28. This suggests that bulls have the upper hand and are willing to pay a premium to keep long positions open.

The appetite for risk assets in the broader cryptocurrency market is also in the Greed territory, according to the Fear & Greed Index, which holds at 69 on Tuesday. This setup continues to reinforce bullish positioning.