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Invezz 2025-09-30 09:13:32

XRP stays below $3.0 as exchange reserve increases: check forecast

XRP, the native coin of the Ripple ecosystem, is down by less than 1% in the last 24 hours and now trades at $2.87 per coin. This performance comes as the cryptocurrency established a resistance at $2.92, with a minor support level at $2.83. The short-term outlook reflects the broader crypto market, with Bitcoin and Ether currently experiencing volatility over the last few days. The $3.0 resistance level remains a key area for XRP, as surpassing it would enable the coin to reach the high of $3.66 set on July 18. However, traders are still assessing key metrics and indicators to determine if XRP can sustain an uptrend or resume its downtrend towards the $2.50 support level. XRP exchange reserves surge higher Traders are currently observing the on-chain metrics for XRP. XRP holders have transferred large amounts of the token into exchanges since the start of the month. Data obtained from CryptoQuant shows that reserves on Binance have surged by 19.4% to 3.6 billion XRP from 2.9 billion XRP. The increase in XRP reserves on exchanges coincided with XRP’s price decline from $3.18 on September 13 to around $2.70 on September 22. A surge in exchange reserves often indicates incoming selling pressure. Investors usually transfer assets to exchanges when they intend to sell. Thus, suggesting that investors are losing confidence in XRP’s ability to sustain its uptrend. Retail interest in buying XRP has also remained stagnant in recent weeks. XRP’s Open Interest (OI) was $7.56 billion on Monday after hitting a record high of $10.94 billion on July 22. Declining OI indicates that fewer traders are holding positions in XRP futures. Sentiment around XRP could remain bearish in the near term as the declining OI shows less interest in the coin by traders at the moment. $3.0 remains a critical point for XRP The XRP/USD 4-hour chart remains bearish, as XRP failed to break above the $3.0 psychological level on Monday. The coin is still trading between the support at $2.83 (its 100-day Exponential Moving Average) and the resistance level at $2.92. Bulls recaptured the market over the weekend but have failed to build on the momentum in the last 24 hours. Despite that, the $3.0 resistance and TLQ level remain a key psychological point for XRP. The RSI of 55 shows that bullish momentum is building, with the MACD lines also within the positive territory. If the RSI remains above 50, XRP could rally towards the next major resistance level at $3.0 in the near term. An extended bullish run would allow the coin to target its recent high of $3.66. However, it would need to surpass the supply zone at $3.18 to enable it to surge higher. On the other hand, failing to hold the 100-day EMA support at $2.83 could see XRP face selling pressure. If that happens, XRP could resume its downtrend towards the recent support of $2.70, with the 200-day EMA at $2.61 also another target. The post XRP stays below $3.0 as exchange reserve increases: check forecast appeared first on Invezz

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