XRP's Fragile Structure: Can Critical Support Hold?
Ripple's XRP token has been trading in a fragile technical structure since its rally to $1.70 on August 17, according to FXStreet. The remittance token's upside remains constrained, with the $1.35 level acting as critical support. This area is anchored by a key moving average and could potentially provide a foothold for XRP if the market eyes a rebound.
The Fear & Greed Index printed 69 on Tuesday in the Greed territory, reflecting modest uptick in investor confidence. If sustained, higher demand for XRP-related digital asset investment products could cushion headwinds and raise the odds of a renewed recovery.
Despite a drop from $26 million posted last Friday, cumulative ETF inflows have reached $1.66 billion. Meanwhile, average net assets under management are steady at $1.45 billion. Conversely, derivatives are in a persistent decline, with perpetual futures Open Interest (OI) falling to 2.29 billion XRP on Tuesday.