XRP Range-Bound Above $1.00 as Retail Interest in Derivatives Grows

Ripple's XRP has been trading in a tight range, holding above its key near-term support at $1.00 on Monday.

The token's upside is capped by descending moving averages, which undermines its broader technical outlook.

Despite this, retail interest in derivatives continues to grow, with perpetual futures Open Interest (OI) climbing 12% over the past two weeks to an average of 2.41 billion XRP on Monday.

This increase in OI, combined with $1.01 million in inflows into US-listed XRP spot Exchange-Traded Funds (ETFs), suggests that XRP could defend its key support level and potentially recover.