XRP may be on the verge of breaking free from its current price range, fueled by a growing bullish sentiment in the futures market. Traders are increasingly betting on XRP’s upside, hinting at a possible price surge beyond the current resistance levels.
According to Coinglass data, XRP’s long/short ratio has risen to 1.07, reflecting more long positions than shorts. This metric, which gauges market sentiment by comparing bullish and bearish futures positions, suggests a tilt toward optimism. A ratio above 1 typically indicates confidence in the token’s upward movement—precisely the case for XRP at the moment.
Complementing this outlook is XRP’s Relative Strength Index (RSI), which has climbed to 50.77. Hovering above the neutral 50 mark, this momentum indicator points to increasing buying pressure and a positive shift in market dynamics. While not yet in overbought territory, the RSI trend suggests strengthening demand that could support a near-term breakout.
Currently trading at $2.13, XRP is just 3% shy of its next key resistance at $2.18. A successful breach of this level could establish a new support floor and open the path toward $2.29—a target eagerly watched by bullish traders.
However, the altcoin’s trajectory hinges on sustained demand. A drop below the $2.03 support could see XRP retrace further to $1.99, reaffirming the importance of momentum in the coming sessions.
With market signals aligning—rising long positions, a strengthening RSI, and proximity to critical resistance—XRP appears to be gaining bullish traction. As the broader crypto market watches closely, all eyes are now on XRP’s next move: breakout or bounce back.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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