XRP fell below the $1.300 support level on Thursday as bearish derivatives positioning and selling pressure persisted. Traders now watch whether the token can reclaim resistance between $1.333 and $1.372.
XRP dropped below $1.30 on Thursday as the bearish trend continued. Derivatives positioning and persistent selling activity limited its recovery prospects.
Fed hold weighs on risk appetite
XRP traded around $1.29, under the closely watched $1.300 support. The weakness followed the Federal Reserve's decision to hold interest rates at 3.75%–4.00%.
Rates did not change, but continued inflation concerns and a hawkish undertone weighed on appetite for risk assets. Meanwhile, CoinGlass data puts XRP's long-to-short ratio at 0.82, approaching its lowest reading in more than a month. A ratio below one means shorts outweigh longs in the measured dataset.
The funding rate tells a different story. XRP's funding rate stood at 0.0036%, positive after turning higher on October 16, which means longs were paying shorts. That suggests continued demand for leveraged bullish exposure despite the weaker ratio.
CryptoQuant's summary indicators show sell-side dominance in both spot and futures markets for XRP. The platform also flags large whale orders, though large orders alone do not show whether major holders are buying or selling.
Technical levels point to a test of $1.300
On the daily chart, a close below the horizontal floor near $1.300 would weaken the recent trading range and increase the risk of a deeper correction. The daily Relative Strength Index stands at 40, below the neutral 50 level, which indicates that buying momentum remains limited.
However, the Moving Average Convergence Divergence indicator has improved slightly into positive territory, an early sign of easing bearish momentum. The price still sits below its key moving averages.
XRP's first upside obstacle is the 100-day Exponential Moving Average near $1.333. Above it, the 50-day EMA at $1.357 and the 200-day EMA at $1.372 form additional resistance, and further barriers sit at $1.540 and $1.900.
Holding $1.300 and overcoming the nearby moving averages remain the key tests for a more durable recovery.
Source: CoinJournal
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