 ▲ XRP / AI-generated image |
XRP is trading around $1.42, securing upward momentum. The token posted a slight gain from the previous day, moving in line with the broader cryptocurrency market, where Bitcoin held at $72,200 and Ethereum maintained the $2,100 level.
However, according to FXStreet on March 13 (local time), while XRP’s price increased, the Crypto Fear & Greed Index fell from 18 to 15, indicating extreme fear in the market. Such psychological hesitation could limit the extent of further price gains.
In the derivatives market, signs of renewed demand from retail investors have emerged. Futures open interest reached $2.47 billion as of Friday, up from $2.43 billion the previous day. Considering that open interest averaged $2.25 billion earlier this week when XRP marked its weekly low of $1.33, the steady rise in this indicator could support a breakout above the key resistance level of $1.54.
On the other hand, institutional demand appears to have softened. Spot ETFs saw total outflows of $28 million through Thursday, and depending on Friday’s results, they are likely to record net outflows for two consecutive weeks. Cumulative net outflows have reached $1.21 billion, while total net assets have declined from a peak of $1.65 billion on January 1 to $968 million.
From a technical perspective, XRP is attempting to shift from neutral to bullish in the short term. Buyers are targeting a breakout above the key resistance near $1.52, where the 50-day moving average is positioned, while the daily Moving Average Convergence Divergence (MACD) is also flashing bullish signals. The Relative Strength Index (RSI) stands at 51, suggesting short-term short-covering activity.
If XRP decisively breaks above the $1.52 level and the SuperTrend resistance at $1.54, it could advance toward the 100-day moving average at $1.72 and the 200-day moving average at $1.97. However, failure to hold support at $1.38 and the weekly low of $1.33 may increase downward pressure toward $1.30.
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