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12 04, 2025

Bitcoin (BTC) Price Prediction for April 11 — TradingView News

By |2025-04-12T03:12:37+02:00April 12, 2025|Crypto News, News|0 Comments

The market keeps growing today, according to CoinMarketCap. CoinMarketCap”>

BTCUSD

The price of Bitcoin BTCUSD has gone up by almost 1% over the last day.TradingView”>

On the hourly chart, the rate of BTC might have set a local resistance of $82,923. As most of the daily ATR has been passed, there are low chances of seeing sharp moves by tomorrow. 

However, if the candle closes around current prices, there is a chance to see a level breakout, followed by a test of the $84,000 zone.TradingView”>

On the bigger time frame, the price of the main crypto is far from key levels. If neither bulls nor bears seize the initiative, ongoing sideways trading in the area of $80,000-$84,000 is the most likely scenario.TradingView”>

From the midterm point of view, the rate of BTC has made a false breakout of the support of $76,000. If the weekly bar closes far from that mark, the bounceback may continue to the $87,000-$90,000 zone.

Bitcoin is trading at $81,940 at press time.

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12 04, 2025

Cardano Price Prediction April 2025: Is ADA Ready to Surge?

By |2025-04-12T01:11:33+02:00April 12, 2025|Crypto News, News|0 Comments

Cardano (ADA) has caught the attention of investors, but will ADA’s price forecast for 2025 indicate a major rally? Traders are analyzing ADA market trends and technical indicators to determine if this is the right time to buy.

In this analysis, we’ll break down Cardano’s price forecast for April 2025, its investment outlook, and key technical levels that could define ADA’s bull run in 2025.

Cardano Future Value: Long-Term Potential

Looking at Cardano’s future value, the long-term structure remains bullish across higher timeframes. One key technical factor is Fibonacci retracement—ADA has already retraced over 80% from its last major impulse move.

This suggests a potential bottom, making Cardano’s investment outlook promising for long-term holders. However, in the short term, volatility remains high, with key support and resistance levels defining price action.

ADA Price Forecast 2025: What Do the Charts Say?

Monthly Chart: Strong Structure, but Caution Ahead

On the monthly timeframe, the Cardano price analysis still shows a bullish structure. However, large timeframes alone don’t provide clarity for short-term moves.

If ADA can hold above key levels, this could signal a sustained bullish trend heading into April 2025.

Weekly Chart: Momentum Holding Strong

The weekly chart aligns with the bullish trend seen on the monthly. ADA’s market trends indicate that price is still within its last major bullish impulse, which strengthens the case for a positive crypto price prediction for 2025.

Cardano Price Prediction April 2025: Is ADA Ready to Surge?

However, traders should watch for signs of exhaustion—if ADA struggles at resistance, we could see a temporary pullback before a bigger rally.

Daily Chart: Bullish Breakout or Fake Move?

On the daily timeframe, Cardano’s price analysis has turned bullish after breaking a previous high. But is this a true breakout or just a liquidity grab?

Some traders argue that this move was simply a fakeout, designed to trap buyers before reversing. The key question now: Will ADA sustain the breakout, or will it retest lower levels before pushing higher?

H4 Chart: ADA’s Market Structure Still Bearish

Zooming into the H4 timeframe, the structure remains bearish, and traders should watch for key shifts:

Bearish market structure – A shift to bullish is needed for confirmation.
Strong demand zone – There’s an imbalance below that still needs to be filled.
Liquidity below current price – This could lead to a temporary dip before a larger move up.

For Cardano’s price forecast for April 2025 to stay bullish, we need to see a clear trend reversal at this level.

H1 Chart: Bullish Setup, But Watch for Fakeouts

On the H1 timeframe, ADA technical analysis suggests bullish momentum. However, liquidity is still sitting below, meaning the price could sweep lower before continuing upward.

Traders should wait for confirmation before entering long positions, as sudden reversals are still possible.

Cardano vs Ethereum Future Trends: Can ADA Compete?

The Cardano vs Ethereum future trends debate continues. While Ethereum (ETH) remains the leading smart contract platform, Cardano’s ecosystem is expanding.

If Cardano future value continues growing through network upgrades and adoption, it could compete more aggressively with Ethereum in the long run.

Cardano Price Forecast April 2025: Is a Bull Run Coming?

Based on ADA’s market trends, here’s the key outlook for Cardano’s price prediction in April 2025:

  • Long-term structure remains bullish across multiple timeframes.
  • ADA needs to flip bullish on H4 before confirming a rally.
  • A liquidity grab may occur before a major upward move.

While no prediction is 100% certain, ADA’s current setup suggests a bullish breakout if key levels hold. If these conditions are met, ADA’s bull run in 2025 could be just around the corner.

Will Cardano’s price surge in April 2025? Keep an eye on the charts, stay prepared, and if you need help on choosing where to trade ADA, check out WEEX with their worthwhile signup bonus and low fees!

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11 04, 2025

Is a 700% Ripple Surge Just Beginning?

By |2025-04-11T23:10:59+02:00April 11, 2025|Crypto News, News|0 Comments

The crypto market recently experienced a major crash as BTC went under the $80K and XRP under the $2 level. This downtrend came after Trump saw retaliation from other countries, crashing the global market. Some community members have found out that the XRP crash was stopped on a number associated with the Golden Ratio. This number is $1.618, which has ignited debates about the logic and math behind this concept. As some community members use this ratio for future XRP price prediction, we reach an interesting target. Let’s dive into the details and see if the predicted XRP price surge can be supported with analysis. 

This theory was brought up by a member of the NFA research group in an X post. Based on their opinion, this could be a meaningful signal as the crash stopped at $1.618. However, some other community members pointed out in the comments that this was not true. The contradiction can be seen as we analyse the price charts on different exchanges. Binance and Bitstamp, for example, showed that the Ripple price stopped at $1.6134 and $1.6118. Additionally, Coinbase also showed a contradicting result of $1.6106. However, they argued that the $1.61 has enough relevance to the Golden ratio to give this theory credibility. 

The Golden ratio theory and its supposed connection to crypto do not end here. The NFA group had also released a deliberate list of various numbers that were related to cryptocurrencies and the Golden Ratio. As such, they used these instances to draw a conclusion and give credibility to their theory.  They mentioned that the XRP price surged to its all-time high on a date related to the Golden Ratio, jan 6, 2018.

Was the XRP ATH Really on January 4, 2018?

Another example they provided is more complex, as they first pointed out that XRP was launched in August. 2, 2013. Then they calculated that this date is exactly 1,618 days away from the ATH date of Jan. 6, 2018. This group even went further and found out another important event 1,618 days after XRP hit its ATH. Based on their report, XRP hit a low on June 12, 2022. However, with a little research, we can easily find contradictions and debunk such claims. 

If we look at the XRP ATH on multiple exchanges, we see Jan. 4, 2018 as the correct date. The NFA team had given Jan 6 two days after the actual ATH to fabricate their evidence. Additionally, June 12, 2022, also does not represent the data when XRP’s 2021 cycle hit its low. Rather, XRP hit $0.2870 on June 18, which is the actual low of that market cycle.

Is There a Hidden Pattern Behind XRP’s Highs and Lows?

There are also other crypto analysts who have used the Golden Ratio theory to make XRP price prediction. One example is Saul, who used this theory to mark $0.38249 as the golden bottom of XRP. As such, he also determined the future targets for XRP rallies, including $16.18 and $161.8. As of now, XRP is trading near $2, needing more than 700% growth to reach the golden ratio target. 

Can the Golden Ratio Predict XRP Price Surge?

As we discussed, this theory, as of now, has not been supported by actual mathematics and logic. However, the current trajectory for the Ripple price remains bullish. This is because Donald Trump recently announced a 20-day pause, which has reenergised the markets. Additionally, Ripple has been making moves with a recent $1.15 billion purchase of a prime broker. As the XRP ecosystem expands, more capital will be brought in, leading to value appreciation. 



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11 04, 2025

Solana (SOL) Price Analysis & Forecast April 2025.

By |2025-04-11T21:10:35+02:00April 11, 2025|Crypto News, News|0 Comments

  • Solana is trading at $118.96, reflecting a slight 1.62% daily gain amid subdued trading volume.
  • Technical indicators hint at a potential bullish reversal, contingent on a breakout above $121.
  • Analysts forecast SOL to average $130.63 in April 2025, with long-term ROI expectations reaching up to 24.2%.

Solana (SOL), one of the leading Layer 1 blockchain assets, is currently priced at $118.96, marking a modest 1.62% gain in the past 24 hours. This uptick comes amid a sharp 39.64% decline in daily trading volume, now standing at $3.94 billion.

Source: CoinMarketcap

The token keeps consolidating its well-established price zone of $113 to $121 with signals of an imminent reversal after experiencing a current pullback. Experts observe that price action is being closely bound, with an enhancing volume profile that indicates probable accumulation by investors.

The structure in the market is cautiously bullish above $113, although verification of any bullish momentum is dependent on breaking decisively above the $121 level of resistance.

The structure on the market remains bullish above $113, although confirmation of any upwards momentum will be dependent on a clear break above the $121 level of resistance.

Solana (SOL) Price Analysis & Forecast April 2025.
Source: X

Solana RSI Signals Potential Reversal from Oversold Levels

Several technical indicators during the period under analysis signal an emerging momentum shift. The Relative Strength Index (RSI) stands at 34.36 and is indicating an oversold level. As volatility declines by way of Bollinger Band Width 24.74%, there are signals that the breakout or trend conclusion is on the cards.

The MACD is approaching convergence with its signal line, which points to an impending momentum reversal. Additionally, the Average Directional Index (ADX) is strong at 38.0, confirming the current trend momentum.

The Directional Movement Index (DMI) remains biased in favour of sellers, although declining momentum is losing steam. As the ratio continues above 1.0, price movements in the current direction acquire validity.

Strategically, traders should track important levels strictly. A long setup may be considered in the area of $116–118 with its target set to $121 (R1), and $125 (R2), with the stop-loss set below $113.

On the other hand, a short setup is feasible on rejection at $121 with the target being $111 (S1), and stop above $125. Risk management is still required since the market is waiting for confirmed breakouts.

Solana expected to trade between $124 and $137

Changelly, cryptocurrency experts have offered promising forecasts into Solana’s price direction. In April 2025, the asset will be trading in the range of $124.29 and $136.96 and will be averaging $130.63.

This amounts to a 21.8% monthly return on investment (ROI). Projected further into the 2025 forecast period, technicals show trading ranging from $139.85 to $139.56 with an average price around $139.26.

If realized, this scenario could provide a maximum ROI of 24.2%, solidifying investor faith in the long-term growth prospects of Solana with ongoing ecosystem growth and interest from institutions.

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11 04, 2025

DOGE Price Prediction for April 11

By |2025-04-11T19:09:46+02:00April 11, 2025|Crypto News, News|0 Comments

Despite bears’ pressure, most of the coins are in the green zone today, according to CoinStats.

DOGE chart by CoinStats

DOGE/USD

The price of DOGE has increased by 1.53% since yesterday.

Article image
Image by TradingView

On the hourly chart, the rate of DOGE is on its way to the local resistance of $0.16. If the daily bar closes near the upper level, the accumulated energy might be enough for a test of the $0.1620 zone.

Article image
Image by TradingView

From the bigger time frame, neither buyers nor sellers are dominating. However, if the bar closes around current prices, sideways trading in the range of $0.1550-0.1650 is the more likely scenario.

Article image
Image by TradingView

From the midterm point of view, one should focus on the bar’s closure in terms of the $0.1411 level.

Related

XRP Price Prediction for April 10

If it happens far from the bar’s closure, bulls may seize the initiative, which may lead to growth to the $0.20 mark.

DOGE is trading at $0.1588 at press time.

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11 04, 2025

Cardano Price Prediction: Is Ripple’s RLUSD Tease the Catalyst for $1.00 ADA?

By |2025-04-11T17:08:38+02:00April 11, 2025|Crypto News, News|0 Comments

Ripple may have just dropped a quiet hint, and Cardano fans are paying attention. A quick flash of the $ADA logo in Ripple’s new tokenization video has sparked talk of a possible connection.

Cardano (ADA) was trading at around $0.62, up 11.86% in the last 24 hours. Source: Brave New Coin

Now, with fresh price predictions and growing interest, ADA seems to be picking up momentum both on the charts and in the community.

Ripple’s Tokenization Tease Sparks Cardano Price Speculation

Ripple may have just dropped a subtle hint that’s caught the attention of the Cardano community. In a recent tokenization video shared by Ripple, viewers noticed that Cardano’s $ADA logo appears right at the start, prompting speculation about a possible RLUSD integration. The moment, flagged by Minswap Intern on X, has sparked curiosity about whether this was intentional or simply a coincidence.

Cardano Price Prediction: Is Ripple’s RLUSD Tease the Catalyst for .00 ADA?

Ripple’s tokenization video sparked speculation in the Cardano community, with the $ADA logo making a brief appearance. Source: Minswap Intern via X

While it’s still unclear, a move like this would make sense. XRP is making waves in tokenization, and Cardano’s growing DeFi scene is gaining momentum. If they do connect, it could open new doors for both ecosystems.

Alex Becker’s Cardano Price Prediction Eyes $3.00

Cardano just earned a high-conviction acknowledgment from crypto analyst Alex Becker, who called it the “easiest bet” in the current crypto market. In a post shared by Angry Crypto Show, Alex Becker sees ADA Cardano price making a strong move toward the $3.00 to $5.00 range, highlighting its speed, decentralization, and positioning as one of the most viable alternatives to Ethereum. While many altcoins are still finding their footing, Cardano’s momentum and fundamentals are starting to speak louder.

Alex Becker's Cardano Price Prediction Eyes $3.00

Alex Becker predicts ADA Cardano price could reach $3.00 to $5.00. Source: Angry Crypto Show via X

With ADA holding steady near the $0.65 mark, this kind of endorsement adds fresh energy to the conversation. Cardano fits the bill because the market has been eyeing strong, utility-driven projects. As institutional interest grows and community support remains strong, ADA’s positioning for the next leg up looks increasingly solid.

Cardano Price Analysis

Cardano price seems to be holding its ground just as the conversation around its fundamentals heats up. Fresh off speculation around tokenization hints and renewed confidence from analysts, ADA is now showing signs of a technical turnaround on the charts. According to a recent 4-hour view from analyst Crypto Popeye, the price has bounced from its daily order block, a zone between $0.57 and $0.62 that’s historically seen buying interest.

Cardano Price Analysis

Cardano shows technical signs of a turnaround, bouncing off the $0.57 to $0.62 zone, with $0.6712 marking the next key resistance. Source: Crypto Popeye via X

If this level continues to hold, the next challenge sits near $0.6712, marked as a market structure break. A flip of that level could signal intent from bulls, potentially opening the door for a push toward the $0.85 range. It’s not a breakout yet, but with momentum brewing both on-chain and off, ADA appears to be quietly building a base, right in sync with the narrative that’s been growing around it.

Cardano Stands Out With Broad Holder Base

As ADA shows signs of strength, both technically and fundamentally, fresh data adds another layer to the story. Over 91% of Cardano’s circulating supply is now held by non-whale wallets, according to a recent post from Cardanians (CRDN). That’s a sharp contrast to many top assets, where large holders dominate the supply. With just 8.48% attributed to whales, Cardano’s base looks more decentralized than most, something that aligns well with its steady, community-first momentum.

Cardano Stands Out With Broad Holder Base

Cardano’s decentralized holder base grows, with 91% of ADA held by non-whale wallets. Source: Cardanians (CRDN) via X

Following recent technical support reclaim levels and renewed attention from analysts, this distribution adds quiet confidence to the bigger picture. It suggests ADA isn’t just reacting to market shifts, it’s being held with intention. In a landscape often driven by hype and sharp swings, Cardano’s wide holder base may be one of its most underrated strengths heading into the next phase.

ADA on Track for Recovery

Following the recent bounce highlighted in Crypto Popeye’s chart, this broader time frame from analyst MMB Trader offers a complementary perspective on ADA’s next potential moves. The chart centers around the 0.618 Fibonacci retracement level, an area often considered a critical support in long-term price structures. ADA appears to be holding that level for now, with the $0.55–$0.60 zone labeled as a major support area. This aligns closely with the order block discussed earlier, reinforcing the idea that this range could be a meaningful pivot point for buyers.

ADA on Track for Recovery

Cardano holds critical support at the $0.55–$0.60 range, with $1.0971 as the next potential target for recovery. Source: MMB Trader via X

If that level continues to act as a floor, the next Cardano price prediction sits around $1.0971, which lines up with previous price memory and a clean psychological level. The structure here supports the narrative we’ve seen forming: ADA isn’t rushing higher, but it’s holding key territory and slowly shaping up for a potential recovery leg. With on-chain interest, possible RLUSD integration, and renewed speculation, this chart adds another layer of cautious optimism to ADA’s evolving setup.

Final Thoughts and Rlinda’s Adverse Views

While recent charts hinted at a possible recovery for ADA, some analysts are not convinced that a bottom is in. Crypto analyst Rlinda’s views offer a more cautious angle, suggesting Cardano’s price remains under pressure within a broader bearish trend. The bearish case outlined here points to a deeper move if ADA can’t hold above $0.633. A confirmed breakdown below this mark, followed by consolidation, could open the door to lower support zones at $0.5092, $0.4564, and even $0.4223.

Final Thoughts and Rlinda's Adverse Views

Crypto analyst Rlinda warns that ADA may face further downside if it fails to hold above $0.633, with support levels at $0.5092, $0.4564, and $0.4223. Source: Rlinda via X

Adversing with the earlier charts, this outlook serves as a reminder that despite growing interest and long-term narratives, short-term risks remain. It’s a fitting end to the broader discussion: while sentiment is slowly turning, ADA still has technical hurdles to clear before any full-blown recovery can take shape.

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11 04, 2025

Fartcoin Price Prediction & Analysis: Solana Meme Coin Surges 20% Today As Analysts Eye $1 Target

By |2025-04-11T15:07:39+02:00April 11, 2025|Crypto News, News|0 Comments

TLDR

  • Fartcoin (FART) price surged 20% today and 80% over the week
  • Currently trading at $0.8416 with a market cap of $841.89M
  • Shows a cup-and-handle formation indicating bullish reversal
  • Analysts predict targets between $1-$1.2 in the short term
  • Rising open interest with majority in long positions shows investor confidence

Fartcoin, one of the most popular Solana-based meme coins, has seen its price jump 20% today despite the broader crypto market downturn. The token is now trading at $0.8416, representing a weekly gain of approximately 80%.

The surge comes as investor interest returns to the token, evidenced by rising open interest data. Market analysts are now watching closely to see if FART can reach the $1 milestone in the coming days.

With a current market capitalization of $841.89 million, Fartcoin has established itself as a notable player in the meme coin sector. Its unique name has helped catch investor attention in a crowded marketplace.

Fartcoin
FARTCOIN Price

This price action stands in stark contrast to most other cryptocurrencies, which have been experiencing downward pressure recently. Even other popular meme coins have struggled, making FART’s performance particularly noteworthy.

Technical Analysis Shows Strong Reversal Pattern

Technical analysts point to a textbook cup-and-handle formation on Fartcoin’s 4-hour chart. This pattern typically signals a bullish reversal after a prolonged downtrend.

The token reached a low of $0.20 during its bottoming process before completing five impulsive waves, confirming the reversal pattern that traders look for.

Fibonacci retracement levels drawn from the previous high of $2.72 to the local bottom of $0.20 indicate current resistance at $0.80, followed by $1.16. These levels align with typical correction targets after extended bearish markets.





The Relative Strength Index (RSI) shows continued strength with higher lows, suggesting momentum remains intact. However, the asset is approaching overbought territory.

This might lead to brief corrections before pushing toward higher levels.

Liquidation Data Supports Bullish Outlook

Data from Coinglass indicates that shorts are being liquidated, forcing traders to rebuy the asset and further pushing up the price.

The majority of capital is placed in long positions, revealing investors’ confidence in FART’s potential for additional gains.

This liquidation pattern often fuels continued price movement in the direction of the trend, providing technical support for the bullish thesis.

Some market participants have noted that this surge in Fartcoin coincides with renewed interest in other Solana-based meme coins, including Bonk and Dogwifhat, which have also seen price increases.

The crypto community speculates that this could mark a recovery of investor interest in these previously struggling digital assets.

Price Targets and Predictions

Various crypto analysts anticipate further upside for the Solana meme coin. With FART having previously reached a high of $2.61 three months ago, a $1 target appears feasible to many observers.

Some analysts predict a near-term target of $1.2, based on the breakout from horizontal resistance and continued bullish momentum amid high trading volume.

More optimistic price forecasts suggest FART could reach as high as $10 during the next major crypto bull run. These predictions are based on the view that Fartcoin has bottomed out and is now consolidating above key breakout levels.

Elliott Wave analysis suggests FART is currently within wave (v) of a higher-degree impulse. Projected targets for this wave fall between $0.85 and $0.98, aligning well with higher timeframe resistance zones.

However, market uncertainty remains due to external factors, including potential impacts from ongoing trade tensions under the Trump administration. These geopolitical concerns continue to influence investor sentiment across all asset classes.

For now, the short-term outlook for Fartcoin appears positive, with technical indicators and market sentiment supporting continued upward momentum. Traders will be watching the $1 psychological level closely in the coming days.

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11 04, 2025

Top Analyst Projects Here’s How Dogecoin Price Could Surge 364% to $0.67

By |2025-04-11T13:06:30+02:00April 11, 2025|Crypto News, News|0 Comments

A notable TradingView analyst projects a 364% Dogecoin rally, citing historical patterns and RSI resistance breakout.

Dogecoin’s recent market activity points to increased volatility as short-term price fluctuations continue to unsettle investors. The asset recorded a notable decline from April 5 to April 7, reaching a low of $0.13. Although it recovered slightly on April 10, the price fell again to $0.14 before briefly rebounding to $0.15.

The memecoin’s performance indicators reflect this short-term bearish trend, with a 7-day drop of 5.8%, a 14-day loss of 13.8%, and a 30-day decline of 6.9%. Despite these negative metrics, technical analysts suggest that Dogecoin might be approaching a pivotal inflection point, potentially priming for a major price move.

Technical Setup Signals Possible Upside

A TradingView analyst, with the label without_worries, shares a technical formation based on a 3-day candlestick chart that resembles a breakout structure observed in earlier price surges. He notes a confluence of indicators, including support at historical resistance levels and a breakout in both price action and RSI resistance.

Top Analyst Projects Here’s How Dogecoin Price Could Surge 364% to alt=
Dogecoin Price Prediction

In addition, the chart shows bullish divergence patterns, which, according to the analyst, mirror conditions preceding previous upward trends.

Notably, the same analyst predicted earlier that DOGE could witness a crash when prices were high. This thesis was validated when Dogecoin dropped 70% to the $0.2 level in February. 

He now sees potential for an extended upside of over 364%, targeting a long-term price of around $0.67 if current signals evolve into a sustained trend. He also encourages buying dip, especially now that there is blood on the street.

Support at $0.14 Remains Critical 

Meanwhile, another analyst, MonoCoinSignal, in a separate assessment, underlines Dogecoin’s relative stability during broader market declines. His report, published Monday, observes that Dogecoin registered a modest 0.11% increase even as the global crypto market lost 4.4% in value. This, he argues, reflects the asset’s resilience under current market pressure.

Despite that, MonoCoinSignal emphasizes that mixed momentum persists. He notes that while whale accumulation continues to support a bullish outlook, macroeconomic concerns—especially related to Donald Trump’s ongoing trade policy shifts—may limit near-term price growth. He identifies $0.14 as a critical support level, warning that any sustained break below could reverse recent gains.

Short-Term Resistance at $0.15

In terms of immediate price action, the path to $0.16 remains contingent on Dogecoin breaking the $0.15 resistance with a strong trading volume.

MonoCoinSignal states that a confirmed move beyond $0.16 could set the stage for further gains, potentially allowing DOGE to revisit the $0.20 mark.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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11 04, 2025

Is XRP price going to crash again?

By |2025-04-11T11:05:56+02:00April 11, 2025|Crypto News, News|0 Comments

XRP (XRP) price has recovered from its low of $1.61 reached on April 7, but it’s still trading below a key resistance zone. Will XRP’s price sustain the recovery or drop further in the coming days?

XRP/USD daily chart. Source: Cointelegraph/TradingView

One of the clearest signs that there is more trouble ahead for XRP is the presence of negative funding rates and low open interest (OI) in its futures markets.

Funding rates are periodic payments made between long and short traders in perpetual futures contracts to keep prices aligned with the spot market. When this metric turns negative, it means short sellers are paying long holders, indicating that bearish sentiment dominates.

XRP funding rates have been hovering below 0% since early February, indicating bearish sentiment dominates the market.

XRP perpetual futures funding rates across all exchanges. Source: Glassnode

Similarly, XRP’s OI in the futures market has dropped from its local peak of $7.87 billion on Jan. 17 to $3.06 billion as of April 10.

OI measures the total number of outstanding futures contracts, and a decrease suggests more traders are exiting positions.

XRP futures open interest. Source: CoinGlass

Historically, assets with declining open interest struggle to maintain upward momentum, as there’s insufficient capital and enthusiasm to drive prices higher. For XRP, this could mean that even minor selling pressure might trigger a cascade of liquidations, especially if leveraged positions are unwound. 

Without renewed interest from institutional or retail traders, XRP’s price risks sliding back into a downward spiral.

Related: Ripple acquisition of Hidden Road a ‘defining moment’ for XRPL — Ripple CTO

XRP price runs into resistance at $2.20

XRP price traders are reassessing its breakout strength after the token failed to sustain momentum.

XRP’s 21.5% rally on April 9 was stopped by supplier congestion around the $2.20 level. XRP also failed to rise above this level on April 5, reinforcing the importance of this zone. The price is required to flip this level back into support to increase the chances of a sustained recovery.

The altcoin is still trading below the 50-day and 100-day SMAs, as shown in the chart below. The token now enjoys support at $1.86, embraced by the 200-day SMA.

XRP/USD weekly chart. Source: Cointelegraph/TradingView

A decisive close above the resistance level at $2.20 and later a rise above the 50-day SMA at $2.28, accompanied by high volume, could see XRP price rally toward the 100-day SMA around $2.50.

Contrarily, the RSI is still moving below the middle line, suggesting that the market conditions still favor the downside. 

As such, if XRP closes below the 200-day SMA at $1.86, it will drop lower to retest the local low at $1.61 or lower toward $1.07, as earlier predicted by veteran trader Peter Brandt.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.