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XRP could be headed for a sharp downturn toward $1.7 as bearish technical indicators intensify, according to new market Analysis .  This outlook by cryptocurrency analyst TradingShot, XRP has been trading within a long-term ascending channel for nearly a year, but its recent price structure suggests growing downside risk. In an October 17 TradingView Analysis , XRP was shown to be trading within a channel up pattern since late November 2024 but recently entered a second bearish phase after last week’s sell-off.  XRP price analysis chart. Source: TradingView The price has broken below the mid-range of the ascending channel, signaling growing downward momentum.  XRP key price levels to watch  The analyst noted that a bearish crossover between the 1-day 50-day and 100-day moving averages has reinforced the negative outlook, echoing a similar signal earlier this year that drove XRP below the 0.786 Fibonacci retracement level. If the current de...

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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Summary ⚈ Ethereum open interest surged 80% since April, hitting a three-month high. ⚈ ETH price climbed 76%, aligning with increased speculative activity and open positions. ⚈ Technical analysis suggests a breakout toward $2,739 if bullish momentum continues. Ethereum’s (ETH) open interest, a measure of open derivatives positions at any given time, reached a 3-month high on May 13, signalling strong confidence that the present rally will continue. The total amount of derivatives positions open on the day was 17.05 billion, the highest it has been since February 2, and worth a total of roughly $32.68 billion, per data Finbold retrieved from cryptocurrency Analysis platform CryptoQuant . The elevated level of ETH open interest is a clear sign of increased speculative trading —  and since Ethereum prices have been surging as of late, traders seem to be betting that the rally will continue. Ethereum open interest year-to-date (YTD) chart. Source: CryptoQuant Wh...

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XRP is undoubtedly one of the most promising and leading cryptocurrency tokens that the market has ever seen. The token has lately been hovering over low price spots but has kept the speculative spree running over, pondering on elements related to when the token will scale high and reach the top of the market radar. While the token is part of the growing ETF narrative, XRP leaves no stone unturned in establishing its credibility as a leading cryptocurrency token in the market. Here’s how high the token may trade next month. Will it be able to secure a new high? Also Read: Meta Platforms: Why Jim Cramer Is Bearish on META Stock Ripple: What Lies Ahead? Source: Bitcoin News XRP is currently sitting at a new price spot of $2.19, down 0.32% in the last 24 hours. The token is currently eyeing new price spots per Egrag Crypto and has already planned its ascent to reach the top spot. Per the expert, XRP is eyeing notable price spots, possibly as high as $17, in his latest price Analysis ...