The crypto market has been weak since the start of the week. Major coins like Bitcoin, Ethereum, and XRP have all been affected by selling pressure. Traders are cautious, and the market has struggled to find upward momentum.
XRP, in particular, has lost about 4% over the past seven days. Despite growing institutional interest, the bulls have been unable to renew the coin’s upward trend. Retail traders seem less confident, and many are closing positions amid fears of further declines.
On the institutional side, Ripple continues to make progress. The company announced that its RLUSD stablecoin is now integrated into tokenized money-market funds from BlackRock and VanEck. This has been made possible through Ripple’s partnership with Securitize. A new smart contract on Securitize’s platform allows investors in BlackRock’s BUIDL and VanEck’s VBILL funds to swap shares for RLUSD on demand. Ripple says this positions RLUSD as a settlement layer for real-world assets while increasing institutional adoption of the coin.
Despite this, retail interest in XRP has been falling. Futures Open Interest on XRP has dropped to $7.64 billion from $8.79 billion last Friday. This shows that traders are unsure about XRP’s short-term momentum and may be closing positions to limit losses.
Technical analysis also shows a bearish picture for XRP. On the 4-hour chart, XRP has seen recent losses but is currently trading above its 100-day Moving Average at $2.87, after dropping to $2.69 earlier in the week. The Relative Strength Index (RSI) is at 41, showing that the bears still dominate the market. The MACD indicator remains in negative territory, confirming bearish momentum.
For XRP to regain control, the bulls need to push above the first major resistance level at $2.94. Surpassing this could give the coin a chance to reach the psychological $3.0 mark. However, a return to the recent high of $3.66 seems unlikely as the broader crypto market is undergoing a correction.
If XRP fails to pass $2.94, the bears may strengthen their hold. The coin could retest support at $2.70, and a longer bearish trend could bring the 200-day EMA at $2.59 into focus. Momentum indicators, including RSI and MACD, may provide clearer signals once the market turns bullish. For now, the market remains cautious, with low liquidity in futures trading suggesting further downward movement in the short term.
Ripple’s ongoing institutional adoption offers hope for the coin’s long-term growth, but near-term price action will likely remain under pressure as traders adjust to the broader crypto market correction.
