Foreign media reports indicate that XRP has been hovering around $1.10 recently, underperforming the recent surge in meme coins. However, looking at its price structure over the past month, XRP's lows have been consistently rising, and the market is still observing whether it will break out of its current consolidation range.
$1.16 becomes the short-term focus.
The article argues that XRP is currently facing resistance around $1.16. The price is trading above the rising support line, with the trading range narrowing, indicating a consolidation phase. If it effectively breaks above this level, market attention may shift to the $1.25 area; if it encounters resistance again, the sideways trading pattern is likely to continue.
Increased holdings indicate that funds are still in the market.
The article mentions that XRP open interest has risen to approximately 202 million contracts, indicating that new positions are still entering the market, rather than traders leaving en masse. Meanwhile, funding rates remain in a positive range of approximately 0.0084%, reflecting the dominance of long positions, but leverage levels have not yet shown significant overheating.
This data typically indicates that market participants are positioning themselves in advance for future direction, but a clear breakout has not yet occurred. For XRP, the main characteristics of the current market are that the price has not fallen rapidly, while derivatives data remains relatively strong.
meme coin attracts short-term funds.
The article also mentions that speculative funds have recently flowed more into meme coins, resulting in relatively lackluster performance for XRP. Nevertheless, XRP has not fallen below key psychological levels and remains within its converging range.
As the article suggests, if the resistance above $1.16 is broken, the price could potentially test the $1.25 to $1.26 range; conversely, if it encounters resistance again or falls below $1.00, the consolidation period could be prolonged. The short-term direction still depends on which side of the range is broken first.
