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UNIXRP holds near $1.29 as futures open interest slips to $2.77bn
XRP is trading around $1.29 while futures open interest falls 1.32% to $2.77bn, and prediction markets put a 50% chance on the token touching $1.20 before November.
Why it matters: Falling open interest and leverage alongside a weak price show traders unwinding speculative positions in one of the largest tokens rather than adding fresh bets.
Key points
- XRP trades near $1.29, with support at $1.27 and resistance toward $1.35, Bitcoin.com News reports.
- Futures open interest is about $2.77bn, or roughly 2.14 billion XRP, down 1.32% in 24 hours.
XRP is battling to hold near $1.29 as its futures market loses momentum, with sellers keeping the upper hand on the charts, Bitcoin.com News reports.
The derivatives picture shows cooling leverage rather than fresh bearish bets. XRP futures open interest stands at about $2.77bn, equal to roughly 2.14 billion tokens, after a 1.32% fall over 24 hours. CME leads with $494m in contracts, just ahead of Binance at $491m, and Binance's estimated leverage ratio has eased to about 0.17 from close to 0.23 in late September.
Technical readings are mixed. The daily relative strength index sits at 34.65 and the stochastic at 9.04, levels consistent with oversold conditions, but 11 of 15 tracked moving averages give negative signals and the MACD remains negative. The taker buy/sell ratio of 0.883 shows immediate sellers still outnumber buyers.
Prediction markets point to fading October hopes. On Kalshi, the October high-price market's forecast level is $1.50, down 20 cents, with a 16% chance of clearing $1.60.
What to watch: XRP options worth watching expire on 23 Oct, with a calculated max pain level of $1.26.
Live updates on NewsFeeds:AltcoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.
Not investment advice. Read the risk disclaimer.