Ripple (XRP) is trading near $1.30 at press time on Friday, extending a 2% loss from Thursday. On-chain data shows a steady increase in XRP holdings of large wallet holders, commonly known as whales, while an
The technical outlook for XRP is bearish as momentum indicators indicate strengthening selling pressure.
XRP derivatives signal renewed risk appetite
XRP derivatives data shows increased trading activity amid widespread bearish bias. A total of $3.58 million were liquidated in the last 24 hours, including long term liquidations of $3.11 million. This caused the long-to-short ratio to fall to 0.9264, indicating a large number of active short positions.
However, despite the bearish sentiment, XRP futures open interest (OI) stands at $2.46 billion, up 3% over the same period, indicating increased position building and risk appetite among traders. Additionally, the OI-weighted funding rate turned positive to 0.0038%, confirming traders’ risk appetite to maintain positions at a premium.
XRP whales continue buying while institutions are on the backfoot
On-chain data shows that large wallet holders maintain a stable buy-the-dip strategy. According to Santiment, wallets holding more than 10,000 XRP now hold 45.57 billion of the tokens, up from 45.29 billion on Tuesday.
Meanwhile, the XRP ETF recorded an inflow of $64,610 on Thursday, following an outflow of $1.32 million on Wednesday. This is the first inflow since March 26, while monthly outflows since March totaled $31.16 million.
Overall, despite continued whale demand, XRP extended its decline in March while aligning with ETF outflows, meaning ETF inflows outweigh whale demand in the near term.
Technical Outlook: Will XRP fall below $1.30?
XRP was trading above $1.30 at press time on Friday. The near-term bias is mildly bearish as
The moving average convergence divergence (MACD) remains below the signal line on the daily chart with a slight negative histogram, suggesting persistent selling pressure rather than a decline in momentum. Meanwhile, the Relative Strength Index (RSI) remains at 38, strengthening the bearish tone without entering oversold conditions.
On the downside, a daily close below $1.30 would highlight a low of $1.11 on February 6.
Initial resistance at $1.42 is aligned near the 23.60% Fibonacci retracement, measured from the $2.41 high to $1.11 low, with the 50-day EMA falling at $1.43.
(The technical analysis for this story was written with the help of AI tools.)
