Key Insights
- XRP’s derivatives volume rose 43% alongside a 4 percent increase in open interest, signaling renewed market participation.
- Binance’s Taker Buy Sell Ratio reached 0.991, the highest since November, reflecting easing sell pressure and growing buy-side interest.
- XRP price climbed above its upper Bollinger Band, showing momentum, though maintaining support above $1.90 remains critical for a sustained move.
XRP has begun to stabilize following weeks of downward pressure, showing signs of a shift in sentiment. The token traded at $2.13 at the latest update, reflecting a 3 percent increase over the previous 24 hours. Over the past week, XRP fluctuated between $1.83 and $2.16 and gained 4.2% in the last month, hinting at a slow recovery from December’s selling phase.
Trading activity rose as XRP’s price approached the higher end of its recent range. Spot volume surged to $3.29 billion, up 25.5% from the prior day. At the same time, derivatives volume grew 43% to reach $5.93 billion, while open interest rose by 4% to $3.86 billion. This combination suggests new positions are entering the market rather than existing ones closing, which may signal growing confidence in the asset’s near-term direction.
Taker buy pressure on Binance approaches bullish territory
According to CryptoQuant contributor CryptoOnchain, taker behavior on Binance indicates rising optimism among traders. The seven-day average Taker Buy Sell Ratio has climbed to 0.991, the highest since late November. This metric compares aggressive market buys with sells, and the approach to the 1.0 mark implies that buyers are becoming more assertive. Although still below a full bullish threshold, the metric shows that sell-side pressure is weakening.
On the technical front, XRP remains within a broader downward trend marked by lower highs and lower lows. However, recent price action has improved after the token built a support base between $1.75 and $1.85. The move above the upper Bollinger Band near $2.08 signals strong short-term momentum, though it may also point to temporary price exhaustion.
Support levels critical for continuation of recovery
XRP is now holding above the midline of the Bollinger Bands at $1.90, which has become a key support level. The relative strength index rose to 65, reflecting improved momentum without yet signaling overbought conditions. If XRP maintains levels above $1.95, resistance could emerge near $2.25 and $2.50. A daily close under $1.90 would weaken the bullish case and risk a return to lower support zones.
