 ▲ Ripple (XRP) © Go Da-sol |
XRP (Ripple) is attempting a rebound after barely holding the $1.33 support level, but weakening market strength persists amid institutional fund outflows and retreating retail investors.
According to investment media outlet FXStreet on March 9 (local time), XRP is trading around $1.35 while maintaining its key support level as geopolitical risks stemming from the Middle East conflict weigh on global financial markets. However, recent fund flows indicate that investor sentiment remains cautious. A report from CoinShares showed that approximately $30 million was net withdrawn from XRP-related digital asset investment products last week.
Funds moved into other major cryptocurrencies. During the same period, Bitcoin (BTC) investment products saw inflows of about $521 million, while Ethereum (ETH) and Solana (SOL) recorded inflows of $88.5 million and $14.6 million, respectively. The overall digital asset investment product market posted total inflows of $619 million, suggesting that Middle East geopolitical tensions had a partially positive impact on the broader crypto asset class.
Demand for spot XRP ETFs also slowed. About $4 million flowed out of spot XRP ETFs last week, though cumulative net inflows remain at approximately $1.24 billion. Assets under management stand at around $983 million. As market attention shifts toward Bitcoin and Ethereum, XRP-related products appear to be relatively sidelined.
Retail investor interest has also cooled significantly in the derivatives market. XRP futures open interest currently stands at about $2.25 billion, a sharp decline compared to its peak of $10.94 billion recorded last July. Continued price declines and selling pressure in the derivatives market are believed to have dampened retail participation.
Technically, short-term rebound signals coexist with an ongoing downtrend. XRP is trading at approximately $1.36, with the Moving Average Convergence Divergence (MACD) indicator remaining above the signal line, suggesting mild bullish momentum. However, the Relative Strength Index (RSI) sits at 43, still below the neutral line, failing to confirm a strong bullish reversal. The price also remains below the 50-day, 100-day, and 200-day exponential moving averages, indicating that the broader downtrend remains intact.
The first resistance level stands at $1.40, followed by the 50-day exponential moving average near $1.53. According to the report, a break above $1.58, where the Supertrend indicator is positioned, would be required to signal a meaningful trend reversal. Conversely, if the $1.33 support level breaks down, further declines toward the February 28 low of $1.27 could be possible.
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