XRP Price Rebound: Will Bulls Break Through $1.45?
XRP has been experiencing a decline in price, dropping to $1.38 after a 3.31% intraday flush, but data suggests that this may not be a breakdown.
The asset is still trading above its major moving averages, including the 7-day, 20-day, 50-day, and 200-day SMA, indicating that the macro trend has not been broken.
However, momentum has stalled, with the MACD histogram flatlining to zero and the RSI hovering just above the 60 midline, suggesting that buyers are losing conviction.
The derivatives market is showing signs of bullishness, with open interest on Binance futures surging 10.58% in the last 24 hours, indicating that traders are loading up on positions during a red candle.
The global long/short ratio stands at 2.42, with retail sitting 70.8% long and professionals at 73.4% long, suggesting alignment between crowd positioning and smart money.