Ripple (XRP) rose above $1.37 at the time of writing on Wednesday, after testing short-term support at $1.35. This rally follows XRP’s rejection at $1.50 in mid-May, largely due to rising United States (US) inflation and macroeconomic uncertainty due to geopolitical tensions in the Middle East.
Meanwhile, the Federal Reserve (Fed) is set to release the minutes of its April policy meeting at 18.00 GMT on Wednesday. Market participants will be looking for signs of a tougher stance and overall policy direction from the Committee amid stronger-than-expected inflation data in April and a prolonged US-Iran conflict that has kept oil and gas prices high.
Capital Inflows Could Boost XRP Outlook
Institutional interest in SoSoValue data shows a four-day bullish streak, with cumulative inflows holding steady at $1.39 billion, while net assets under management averaged $1.12 billion. Rising demand for spot ETFs is helping to shape sentiment positively, increasing the likelihood of a continued upside rally.
The XRP retail market maintains a positive outlook, with perpetual futures open interest (OI) rising to $2.93 billion on Wednesday, from $2.83 billion the previous day. A sustained increase in OI could help XRP price stabilize towards the crucial $1.40 level.
Price Analysis: XRP Finds Key Support as Bulls Eye Recovers
एक्सआरपी $1.37 पर कारोबार करता है, जो निकट अवधि में मंदी का रुख रखता है क्योंकि यह क्रमशः 50-दिन, 100-दिन और 200-दिवसीय एक्सपोनेंशियल मूविंग एवरेज (ईएमए) से नीचे $1.41, $1.48 और $1.69 पर रहता है। The rising trendline support, which has now turned into resistance around $1.40, reinforces a downside bias.
Meanwhile, the Relative Strength Index (RSI) on the daily chart is near low-40 and a negative, sliding Moving Average Convergence Divergence (MACD) histogram signals that bearish momentum is still underway despite some cooling in the Money Flow Index (MFI) readings from previously overbought territory.
At the top, initial resistance emerges at the ascending trendline near $1.40, followed by the 50-day EMA around $1.41, where sellers may attempt to re-establish control. A sustained correction above these barriers will be required to open the way towards the 100-day EMA at $1.48 and the 200-day EMA near $1.69. On the downside, the $1.35 area provides initial support with extended losses likely to recapture the $1.30 demand level.
(The technical analysis for this story was written with the help of AI tools.)
