XRP eyes breakout above $1.42 as traders increase long exposure

Key takeaways

• XRP is approaching $1.40 after defending short-term support at $1.38.
• Futures open interest edged up to 2.24 billion XRP, indicating a modest increase in derivatives exposure.
• The open-interest-weighted funding rate remains positive at 0.01%, showing that bullish traders are paying to maintain long positions.
• A daily close above $1.42 could open the path toward $1.50 and $1.70.

Ripple's XRP is down 1% on Tuesday, approaching the psychologically important $1.40 level after buyers defended support at $1.38.

The recovery follows an unsuccessful attempt to break through selling pressure around $1.50 last week.

Holding above $1.40 would strengthen XRP's short-term outlook, while another rejection could increase the risk of profit-taking and investor exhaustion.

Derivatives metrics remain broadly constructive, with futures open interest edging higher and funding rates staying positive.

However, technical indicators show that bullish momentum has moderated, making the $1.42 resistance level critical to XRP's next move.

… Continue reading the full article at the original source below.