Ripple is at $0.5154, up 1.02% in the past 24 hours. It has hit resistance from the downtrend line at $0.5170, preventing further upside.
The 50 EMA at $0.5195 is also holding back the top on the 2-hour chart.
The RSI is at 48.79, just below the 50 milestone. There is not much buying momentum as the RSI is struggling to get above 50.
A strong buying impulse is needed to break out of the trend line at $0.5170 and the 50 EMA at $0.5195. Otherwise, Ripple will get stuck within this range.
Resistance Levels: The major resistance is $0.5170, followed by $0.5195 and $0.5265. Support Levels: Immediate support at $0.5100, additional levels at $0.5072 and $0.4985.
Open interest is rising, will a big move come first?
XRP open interest is increasing, reaching 510.7 million yen across major exchanges. This means that more and more traders are positioning themselves for big moves both long and short. Historically, high OIs in XRP have occurred before major moves, either up or down.
Increasing OI means traders are expecting a big move. If XRP breaks above $0.5170, OI could accelerate a significant rally to $0.5265. If the buying pressure subsides, OI could accelerate its decline to $0.5072 and $0.4985.
Open Interest Insights: OI rising to 510.7 million indicates growth in market activity. Volatility: High OI led to big moves in XRP.
Summary: XRP needs more buying to break above resistance
For further upside, XRP needs to break above $0.5170 and the 50 EMA at $0.5195. If the buying pressure continues, it could push up to the next resistance level at USD 0.5265. However, with RSI at 48, buyers remain cautious and absent a clear breakout, XRP will be stuck in this range.
These resistance and support levels will be very important in the coming days as the rise in open interest will increase the volatility situation. Notice the change in momentum. These technicals will be your guide.
Key Takeaways: XRP is facing strong resistance, rising OI suggests high market engagement and RSI reflects limited buying momentum. Next steps: Monitor resistance and support levels for breakouts or failures.
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