- XRP holds near $1.30 as buyers target resistance between $1.34 and $1.36.
- Open interest stabilizes near $2.97 billion, signaling XRP reduced leverage extremes.
- Persistent XRP exchange outflows suggest easing selling pressure despite market uncertainty.
XRP continues to face uncertainty as its latest recovery struggles to overcome several important technical barriers. The cryptocurrency has entered a corrective phase after rallying from approximately $0.9839 to above $1.50.
However, weakening momentum and a break below its rising trendline have complicated the bullish outlook. XRP recently defended support around $1.24 and returned toward $1.30, suggesting buyers still see value at lower levels.
XRP Buyers Attempt to Defend $1.30
XRP trades around $1.3055, keeping its price close to the 20-day exponential moving average (EMA) at $1.3033. This level represents immediate support for the ongoing recovery attempt. A sustained hold could encourage buyers to challenge the resistance cluster between $1.3240 and $1.3423.
This region contains the 100-day EMA at $1.3240 and the 50-day EMA at $1.3350. Besides, the 0.5 Fibonacci retracement level at $1.3423 creates another obstacle. Consequently, a daily close above this cluster would strengthen the recovery outlook.
The 200-day EMA near $1.3628 represents the next major hurdle. A successful breakout could expose higher Fibonacci resistance levels at $1.4269 and $1.5473.
However, sellers could regain control if XRP loses its immediate support. The $1.2577 Fibonacci level provides the next important downside defense.
The recent low around $1.24 also remains significant. A breakdown below this region could expose XRP to further losses toward $1.1531.
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Meanwhile, the Chaikin Money Flow (CMF) indicator has recovered to 0.12. Its movement from negative territory suggests improving buying pressure. Significantly, buyers still need to overcome $1.34 and $1.36 before confirming stronger momentum.
XRP Open Interest Shows a Derivatives Market Reset
XRP’s derivatives market has experienced a substantial reduction in leveraged positioning. Open interest previously exceeded $10 billion during the strongest phase of its rally. However, subsequent declines pushed the metric toward approximately $2 billion by February.
Since then, open interest has largely stabilized between $2.5 billion and $3.5 billion. An August expansion briefly increased participation before another cooldown.
The latest reading stands near $2.97 billion, while XRP trades around $1.30. This suggests traders maintain exposure without repeating previous leverage extremes.
Additionally, rising open interest alongside increasing prices could signal renewed market participation. Conversely, declining open interest would suggest traders continue reducing their positions.
XRP Spot Flows Favor Withdrawals Despite Recent Recovery
Exchange flow data also reveals an interesting shift in investor behavior. XRP has recorded predominantly negative net flows throughout the observed period.
Several withdrawal spikes reached approximately $40 million to $70 million. Meanwhile, positive inflows appeared less frequently, although October recorded some stronger deposit activity.
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The latest reading shows approximately $4.44 million in net outflows. This suggests withdrawals continue to outweigh deposits despite XRP’s recent price recovery.
Consequently, sustained withdrawals could reduce immediate selling pressure. However, exchange flows alone cannot confirm whether investors intend to hold or transfer their assets elsewhere.
Ripple Executives Maintain Confidence in Crypto’s Political Influence
Beyond market indicators, Ripple leadership continues highlighting the industry’s growing political influence. CEO Brad Garlinghouse rejected concerns that the midterm election results represent a setback.
He emphasized bipartisan support among elected lawmakers and highlighted America’s more than 67 million crypto users. Moreover, he maintained that clear domestic digital asset regulations remain the industry’s central objective.
Ripple Chief Legal Officer Stuart Alderoty also presented a more balanced assessment. He highlighted Fairshake’s victories across important primary and general election races. Additionally, early Stand With Crypto data indicates strong pro-crypto representation in Congress.
Alderoty also reaffirmed Ripple’s commitment to political engagement and industry education. The company plans to continue supporting initiatives through organizations like the National Cryptocurrency Association.
Technical Outlook for XRP Price
Key levels remain well-defined heading into November:
Upside levels: $1.3240, $1.3423, and $1.3628 represent immediate resistance levels. A breakout above this cluster could open the path toward $1.4269 and $1.5473.
Downside levels: $1.3033 (20-day EMA) serves as immediate support, followed by $1.2577 and the recent low near $1.24. A breakdown could expose $1.1531.
Resistance ceiling: $1.3628 (200-day EMA) remains the critical level XRP must reclaim to strengthen its medium-term bullish outlook.
The technical picture suggests XRP is attempting to establish a recovery after correcting from above $1.50. Improving CMF readings indicate renewed buying pressure, although the broader trend remains cautious.
Will XRP Go Up?
XRP’s November price outlook hinges on whether buyers can defend the $1.30 support and challenge the $1.3423-1.3628 resistance cluster. Improving money flows and stabilizing open interest suggest conditions could support another recovery attempt. If bullish momentum strengthens, XRP could advance toward $1.4269 and potentially $1.5473.
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However, failure to maintain $1.30 could expose $1.2577 and $1.24. A decisive breakdown below these levels would weaken the recovery structure and bring $1.1531 into focus. For now, XRP remains at a critical turning point, with buying pressure and a breakout above the moving-average resistance cluster likely to determine its next major move.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
