XRP trades above $1.15 as rising futures activity and SBI Shinsei Bank’s new crypto rewards program strengthen sentiment. | Credit: CCN.com
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Key Takeaways
XRP remains above the critical $1.15 level, recovering around 1% over the past 24 hours despite broader weakness across the cryptocurrency market.
Retail traders are gradually returning to XRP derivatives markets, with perpetual futures open interest rising from $2.28 billion to $2.44 billion, signaling renewed speculative activity.
Technical indicators suggest bearish momentum is weakening, with the RSI moving above neutral territory and the MACD approaching a bullish crossover.
Ripple’s XRP is attempting to stabilize above the $1.15 level after a volatile week that saw the token lose nearly 8% of its value.
While the broader cryptocurrency market remains under pressure from macroeconomic uncertainty and geopolitical tensions, XRP has posted a modest recovery, gaining around 1% over the past 24 hours.
The rebound comes as traders closely monitor key resistance levels that could determine whether XRP is forming a sustainable bottom or preparing for another leg lower.
Despite the recent bounce, market participants remain divided on the asset’s near-term direction. Technical indicators suggest bearish momentum is fading, but XRP continues to trade below several critical moving averages, leaving the broader trend firmly under pressure.
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While the increase is relatively modest, it suggests traders are gradually rebuilding positions despite elevated uncertainty across crypto markets.
The rise in open interest indicates growing speculative participation, particularly among retail traders who appear willing to increase exposure following XRP’s recent pullback toward key support levels.
Historically, rising open interest during periods of price stabilization has often preceded stronger directional moves, making the coming sessions particularly important for XRP’s outlook.
Institutional demand, however, has been more subdued. Data from CoinGlass shows that XRP exchange-traded funds recorded no inflows on Monday.
Nevertheless, ETF products attracted approximately $2.62 million in net inflows last week, marking the fifth consecutive week of positive flows. Cumulative inflows now stand near $1.43 billion, while total net assets remain around $928 million.
These figures suggest that long-term investors continue to maintain exposure to XRP despite ongoing market volatility. The consistency of ETF inflows could provide an important source of support if broader risk sentiment improves in the coming weeks.
Technical Setup Leaves XRP at a Critical Decision Point
From a technical perspective, XRP is trading in one of the most important zones of the current correction cycle, according to many analysts.
The token recently tested the $1.05-$1.09 range, an area that aligns with the 0.786 Fibonacci retracement level and has become a focal point for both bullish and bearish traders.
Momentum indicators are showing signs of improvement. XRP’s Relative Strength Index (RSI) has climbed to 51 on the four-hour chart, moving above neutral territory.
Meanwhile, the MACD histogram is approaching the zero line, suggesting bearish momentum is weakening, and buyers are gradually regaining confidence.
However, the broader technical picture remains challenging. XRP continues to trade below its 50-day EMA at $1.33, 100-day EMA at $1.41, and 200-day EMA at $1.63.
These levels represent significant overhead resistance that bulls must reclaim before a meaningful trend reversal can be confirmed.
The first key resistance level sits near $1.26, followed by a more critical barrier at $1.33. A decisive breakout above these levels could open the door toward the 200-day EMA near $1.63 and potentially signal the beginning of a larger recovery phase.
Conversely, failure to break resistance may lead to another test of support around $1.05, with a break below that level exposing the psychologically important $1.00 zone and potentially deeper downside toward $0.90.
SBI Shinsei Bank Adds Fundamental Support for XRP
While technical traders focus on resistance levels, a major announcement from Japan is helping strengthen XRP’s long-term adoption story.
SBI Shinsei Bank, a subsidiary of financial giant SBI Holdings, plans to launch a new program later this year that will allow depositors to receive 20% of their interest payments in vouchers convertible into Bitcoin, Ethereum, or XRP.
🚨 KNOW: Japan's SBI Shinsei Bank Will Let Customers Turn Their Deposit Interest Into $XRP, With The Pilot Launching June 10. 🇯🇵
In Simple Words:
Normally, when you keep money in a bank, you earn a small interest payment in cash. SBI Shinsei Bank is changing that.
Through ventures such as SBI Ripple Asia, the group has been a key advocate for XRP-powered cross-border payment solutions across the region.
For the token, the development provides another example of real-world integration at a time when market sentiment remains fragile.
Although the announcement alone is unlikely to trigger an immediate price breakout, it reinforces XRP’s utility narrative and could contribute to stronger long-term demand.
Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
