XRP Rebound Stalled… Will it Find Direction at $1.43?

▲ XRP/ChatGPT generated image ©

As XRP (Ripple) loses momentum around the $1.43 mark and its rebound power weakens, an analysis suggests that a slowdown in both institutional and retail demand is simultaneously weighing on the price.

According to investment media outlet FXStreet on April 24 (local time), XRP has been showing a sideways trend at the $1.43 level after retreating from its weekly high of $1.46, and its upward momentum is slowing down amid a general risk-off sentiment in the market.

In particular, weakening retail investor demand in the derivatives market is acting as a burden. XRP futures open interest has stagnated at around $2.57 billion, a decrease from its monthly high of $2.8 billion. This indicates that sufficient buying interest is not flowing in and is cited as a factor limiting a short-term rebound.

Institutional demand has also noticeably slowed. XRP spot ETF inflows amounted to only about $9.3 million this week, a significant decrease from $55.39 million the previous week. However, cumulative inflows remain at approximately $1.28 billion, and total net assets are maintained at around $1.08 billion. The market views continuous institutional capital inflow as a key variable for a recovery trend.

Technically, short-term support is maintained, but a structural bearish trend remains valid. XRP is trading above the 50-day Exponential Moving Average (EMA) of $1.41, receiving downward support, but it remains below the 100-day EMA of $1.53 and the 200-day EMA of $1.78, indicating clear overhead resistance.

Momentum indicators show mixed signals. The Moving Average Convergence Divergence (MACD) remains in positive territory, and the Relative Strength Index (RSI) indicates a neutral trend at 56. However, the Money Flow Index (MFI) has risen to 74, approaching the overbought zone, which also raises the possibility of a short-term correction. In the short term, breaking through $1.48 and $1.53 is a critical turning point for a rebound, while maintaining support levels at $1.41 and $1.39 on the downside is crucial, according to analysis.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*