Ripple (XRP) shows signs of weakening, currently fluctuating around $2.02 on Thursday morning, amid a risk-off sentiment prevailing in the cryptocurrency market following the new policy decision of the US Federal Reserve (Fed). Nevertheless, XRP remains resilient above the critical support zone of $2, after being rejected at the $2.17 peak on Tuesday.
XRP’s recovery momentum stalls amid weak ETF capital flows
The spot XRP ETF funds just marked a 17-day streak of capital inflows, with nearly $9 million added on Tuesday alone. Total accumulated assets reached $944 million, pushing the (AUM) to $945 million. If it surpasses the $1 billion mark, the XRP ETF could strongly reinforce confidence in growing institutional interest.
XRP ETF statistics | Source: SoSoValueMeanwhile, demand for XRP derivatives remains stable. Open interest (OI) in futures contracts on Thursday hit $3.71 billion. However, this figure is still modest compared to the record high of $10.94 billion in July, indicating that retail investor buying pressure remains weak, potentially limiting XRP’s recovery momentum.
XRP Open Interest Volume | Source: CoinGlass## Technical analysis: XRP declines to find liquidity
XRP is currently trading around $2.02 at the time of writing on Thursday. This cryptocurrency, primarily used for cross-border transactions, remains below key EMA lines: the 50-day EMA at $2.26, the 100-day EMA at $2.42, and the 200-day EMA at $2.46. Maintaining below all three EMAs adds downward pressure, as they all trend downward and continuously hinder any attempts at price recovery.
On the daily chart, the MACD is hovering near the signal line (red) and the histogram bars are quite flat, reflecting weak bullish momentum. The RSI is at 43.94, leaning towards a neutral–bearish zone and continuing downward, indicating that buying strength may still be weak as the indicator remains below the 50 threshold in the short term.
Daily XRP/USD Chart | Source: TradingViewThe rally of XRP is also limited by a descending trendline formed from the all-time high of $3.66, with an important resistance zone at $2.57. Conversely, the upward trendline originating from the support at $1.61 established in April still supports the bullish outlook, now forming a support zone around $1.82.
If the price can close a daily candle above the 50-day EMA (2.26 USD), selling pressure will ease, opening the possibility for a recovery towards the 100-day EMA (2.42 USD). Conversely, losing the upward trendline will put XRP at risk of a deeper correction. Overall, the bears still hold the advantage until XRP regains key moving averages and improves market momentum.
SN_Nour
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