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- XRP rose to around $1.15 on Monday as cautious traders returned to the breakout market.
- The open interest of XRP has increased from $2.28 billion to $2.44 billion, indicating new speculative activity.
Ripple (XRP) rose sharply on Monday, trading around $1.15 as risk appetite showed signs of recovery in the cryptocurrency market. Although sentiment remains weak, results show that sellers are returning to the market after weeks of warning.
The slow recovery comes amid economic challenges and global tensions that continue to dampen business confidence.
Geopolitical risks make investors vulnerable
Risk sentiment remains a major market theme as digital assets struggle to make gains after a brief pullback over the weekend. Investor caution was heightened after Israel and Iran exchanged fire for the first time since a ceasefire agreement was reached on April 8.
Despite the cautious environment, XRP activity showed a slight increase. Open Interest (OI) in XRP futures rose to about $2.44 billion on Monday, up from $2.28 billion previously. The increase shows that traders are slowly re-entering the market and starting to show up again, although uncertainty remains high.
The increase in the futures position reflects the speculative interest rate, although the increase remains relatively low compared to previous periods.
Ripple price prediction: XRP is facing technical resistance
Although XRP has managed to bounce back to $1.15, the broader technical picture remains stable.
The indicator continues to trade below its moving averages, including the 50-day EMA at $1.33, the 100-day EMA at $1.41, and the 200-day EMA at $1.63.
These values create a very tight zone that will reduce the high pressure.
Additional indicators come from the SuperTrend indicator, which remains negative around $1.26, and the downward trend whose breakout point is close to $1.52. Together, these indicators suggest that markets may continue to face trading pressure.
Strong technical indicators continue to favor the bears. The Relative Strength Index (RSI) is hovering around 32 on the daily chart, indicating bearish weakness despite recent gains.
Meanwhile, the Moving Average Convergence Divergence (MACD) histogram remains below the zero line, strengthening the trend.
These indicators suggest that downside risk remains high unless XRP can recover from major resistance levels.
Although XRP has shown resilience by retrieving the $1.15 level, the token remains within a bullish pattern. Improvements in derivatives activity and continued inflows into ETFs offer encouraging signs, but market weakness and global uncertainty continue to intensify.
In order for the recovery to be strong, XRP will have to overcome a number of obstacles as the high volatility in the crypto market improves. Until then, traders are still looking at whether the support of $1.05 and the $1.00 hard limit can withstand further selling.
