Key takeaways
- XRP slipped from fourth place to fifth in market rankings after dropping about 3% over the past 24 hours, yielding the position to BNB.
- Despite growing demand for spot ETFs, XRP is struggling to break the $2.20 resistance level.
XRP loses fourth place to BNB
XRP, the native token of the Ripple network, fell more than 2% in the last 24 hours and is trading around $2.11. The recent weakness comes even as Open Interest (OI) and institutional flows into XRP spot ETFs show signs of growth.
Data from CoinGlass indicates XRP’s OI rose to roughly $4.09 billion on Thursday, up from $3.93 billion earlier in the week. While the increase is modest, it suggests more traders are taking on risk, which can precede price moves in either direction.
If OI continues to climb, it could support a near-term price rally that challenges nearby resistance levels. However, current OI remains below the yearly peak of about $4.55 billion seen on January 6.
Interest in XRP spot ETFs is also building. Reports show ETF inflows of nearly $11 million on Wednesday. Since their November debut, these ETFs have recorded only one day of net outflow — approximately $41 million on January 7 — and cumulative inflows now total about $1.25 billion with net assets near $1.54 billion.
Will XRP resume its uptrend soon?
Technical indicators on the XRP/USD 4-hour chart look bearish overall, reflecting the token’s underperformance over recent days. XRP is still holding just above a key support: the 50-period Exponential Moving Average (EMA) at approximately $2.08.
The 4-hour Relative Strength Index (RSI) has eased to around 53, signaling growing downside pressure. Should the RSI continue to fall, XRP may test the next support zone near $1.90 in the short term.
Conversely, the Moving Average Convergence Divergence (MACD) on the 4-hour chart remains above its signal line, which could encourage traders to anticipate a bullish reversal if momentum strengthens.
A decisive daily close above the 100-day EMA near $2.21 would improve the outlook and could open the path toward the 200-day EMA around $2.33. Until that level is convincingly breached, XRP may face choppy trading between nearby support and resistance.