XRP approaches $1.40 as futures open interest rises and funding rate stays positive
XRP trades near $1.40 with futures open interest at 2.24 billion XRP and funding rate at 0.01%.
Why it matters
The derivatives data suggests traders are building long positions, but the moderation in bullish momentum signals uncertainty about whether XRP can clear the $1.42 resistance level.
Key facts
XRP is approaching $1.40 after defending short-term support at $1.38.
Reported by CoinJournal
XRP is down 1% on Tuesday.
1 %Reported by CoinJournal
Perpetual futures open interest increased marginally to 2.24 billion XRP, up from 2.23 billion XRP the previous day and 2.2 billion XRP on Sunday, according to CoinGlass.
2,240,000,000 XRPReported by CoinJournal
The open-interest-weighted funding rate remains positive at 0.01%, showing that bullish traders are paying to maintain long positions.
0.01 %Reported by CoinJournal
A daily close above $1.42 could open the path toward $1.50 and $1.70.
Reported by CoinJournal
XRP saw an unsuccessful attempt to break through selling pressure around $1.50 last week.
Reported by CoinJournal
What happened
XRP is approaching the $1.40 level after buyers defended support at $1.38, according to CoinJournal. The asset is down 1% on Tuesday, following an unsuccessful attempt to break through selling pressure around $1.50 last week. Futures open interest increased marginally to 2.24 billion XRP, up from 2.23 billion XRP the previous day and 2.2 billion XRP on Sunday, according to CoinGlass data cited by CoinJournal. The open-interest-weighted funding rate remains positive at 0.01%, indicating bullish traders are paying to maintain long positions. CoinJournal reported that a daily close above $1.42 could open the path toward $1.50 and $1.70, though technical indicators suggest bullish momentum has moderated.
How the story developed
- Update
XRP open interest at 2.2 billion XRP on Sunday
- Update
XRP open interest rose to 2.23 billion XRP on Monday
- First report
First report by CoinJournal
XRP eyes breakout above $1.42 as traders increase long exposure
- Update
XRP open interest increased to 2.24 billion XRP on Tuesday
Funding rate at 0.01%, XRP down 1% on the day, approaching $1.40 after defending $1.38 support.
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CoinJournal Crypto media | XRP eyes breakout above $1.42 as traders increase long exposure | Original |
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