XRP Traders Watch $1.45 as Key Support Level
Ripple’s $XRP token is drawing attention from swing traders as it navigates a critical price range. The company is expanding a payment pilot through its decentralized exchange, with lending pools potentially funding Ripple’s payment customers. However, high network activity doesn’t always translate to token value appreciation.
Despite positive monthly net flows into $XRP ETFs for six months, the 90-day Futures taker cumulative volume delta (CVD) has been negative for over a month. August’s network activity boosted $XRP prices, but exchange reserves also rose, complicating the outlook.
The bullish momentum in August saw a swing structure break, shifting the trend upward. The Chaikin Money Flow (CMF) peaked at +0.29 but has since turned negative, indicating selling pressure. The Relative Strength Index (RSI) remains above 50, signaling bullish momentum, while the On-Balance Volume (OBV) has pulled back after an uptrend since August.
The $1.54 high from February was recently breached, with buyers holding the $1.45 local support. Traders are watching the range between $1.45 and $1.65, with liquidation heatmaps highlighting $1.44 and $1.57 as key levels. A breakout past $1.55-$1.57 could present a buying opportunity if the broader crypto market remains strong.