XRP rebounds above $1.42 amid a generally bearish trend, reinforced by the descending moving averages.
Ripple (XRP) is gaining momentum, trading above $1.42 at the time of writing on Friday.
The remittance token’s upswing from its daily open of $1.38 mirrors broader increases in crypto prices, with Bitcoin holding above $72,200 and Ethereum above $2,100.
The XRP derivatives market shows subtle signs of growing retail demand, as reflected in futures Open Interest (OI), which reached $2.47 billion on Friday, up from $2.43 billion the previous day.
Institutional demand for XRP has taken a back foot this week, as evidenced by spot ETFs, which have recorded outflows totaling $28 million through Thursday.
XRP hovers above $1.42, reflecting a neutral to bullish shift in the short-term.
Buyers appear intent on attempting to close above a key resistance at around $1.52, supported by the MACD holding above its signal line on the daily chart.
The expanding green histogram bars could prompt traders to increase their risk exposure, raising the odds of a steady recovery.
The RSI at 51 on the same chart has advanced from oversold levels toward a more balanced stance, which suggests short-covering rather than a decisive bullish momentum.
A daily close is required above the supply cluster around $1.52, as highlighted by the 50-day Exponential Moving Average (EMA).
The SuperTrend lies at $1.54, reinforcing the seller congestion zone.
On the downside, initial support lies at $1.38, followed by weekly lows around $1.33, where failure would expose the $1.30 area as the next bearish target.
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