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- XRP continues to consolidate around the $1.10 mark.
- Bulls are holding prices above $1.05 a supporter.
Ripple’s XRP is trading slowly on Thursday, being close to $ 1.10 as the symbol tried to renew the downtrend that has been going on since mid-May.
The drop comes as demand for XRP-linked trading institutions continues to grow, even as traders remain cautious amid global concerns.
Geopolitical uncertainty continues to weigh on markets
Risk sentiment remains fragile as tensions between the United States and Iran continue to escalate.
Recent developments have also included a military exchange between the two countries, with US President Donald Trump saying Iran is slow to agree to a peace deal. Following the statement, the US military carried out other strikes which it said were self-defense.
Iran’s Islamic Revolutionary Guard Corps (IRGC) launched attacks targeting US military bases in Kuwait, Bahrain, and Jordan.
Uncertainty has contributed to volatility in both the financial and cryptocurrency markets, reducing risk for investors.
Despite the inherent uncertainty, institutional investors continue to be exposed to XRP.
Data from CoinGlass shows this XRP space ETFs attracted about $1.2 million in total admissions on Wednesday, following an average of $7.44 million in admissions on Tuesday.
According to CoinGlass dataXRP futures Open Interest (OI) stood at around $2.43 billion on Thursday.
A fall in open interest usually reflects a decrease in speculative activity and less sentiment among participants in the short term.
XRP price analysis: Attempts to recover meet strong resistance
XRP is trading around $1.10, but the broader technical picture remains stable.
The brand continues to sell under several major brands. Remaining below all three trends indicates that the long-term downtrend remains strong.
Strong technical indicators indicate that sales are slowing, but not reversing.
The RSI is hovering near 44, indicating weak demand as it sits above the sell-off zone.
The Moving Average Convergence Divergence (MACD) histogram is still in negative territory, indicating that the bearish momentum continues despite the recent breakout.
When the bulls regain control, XRP may run to the 50-day EMA at $1.30, with other barriers at $1.40 and $1.61.
A break above $1.26 would be the first sign that bullish momentum is starting to strengthen.
However, if the trend continues, XRP may retest the support level of $1.05 before dropping below $1.0 to test the lower areas at $0.95.
XRP’s recent rally is being supported by steady ETF growth and industry interest. However, low future activity, constant global uncertainty, and the current state of technology shows that recovery remains difficult.
