 ▲ Ripple (XRP) |
XRP (Ripple) is moving sideways within a narrow price range, but expectations for a rebound are resurfacing as rising open interest coincides with Ripple’s expansion of its payment business in the Asia-Pacific region.
According to investment media outlet FXStreet on March 12 (local time), XRP is trading above its daily opening price of $1.38, maintaining relatively stable momentum. At the time of writing, the price stands at around $1.39, experiencing moderate upward pressure alongside a broader market recovery as retail investor interest gradually increases.
Ripple recently secured an Australian Financial Services Licence (AFSL), paving the way for expanding its payment operations across the Asia-Pacific (APAC) region. With this license, Ripple will be able to connect fintech firms and global enterprises within a regulatory framework to provide faster and more efficient cross-border payment services. Prior to the license issuance, Ripple is expected to finalize its acquisition of financial services firm BC Payments Australia Pty.
From a supply and demand perspective, early signs of renewed retail investor participation are emerging. Futures open interest fell to approximately $2.11 billion on March 4 but has since risen to an average of about $2.43 billion. This increase aligns with XRP’s price recovery from a sharp drop to $1.27 following the Iran war shock, rebounding to $1.39, indicating improving investor sentiment.
Technically, a cautious short-term bullish bias is forming, though the medium-term downtrend remains intact. XRP is trading below its 50-day, 100-day, and 200-day exponential moving averages, all of which are trending downward. Additionally, the descending trendline originating from the all-time high of $3.66 continues to act as a resistance level, limiting further upside.
Momentum indicators also suggest limited rebound potential. The Moving Average Convergence Divergence (MACD) is positioned above its signal line but remains below the neutral line, while the Relative Strength Index (RSI) stands at 46, indicating modest buying pressure. Immediate resistance is seen around $1.41, and a breakout above this level could target $1.52, where the 50-day exponential moving average is located. Conversely, if the $1.36–$1.35 support zone breaks down, further declines toward $1.30 and $1.27 may be possible.
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