At the moment, XRP looks weaker than most altcoins. Compared to the broader alt market, it continues to underperform and remains in a clear downtrend.
However, the current structure resembles previous accumulation phases: • formation of a range; • sweeping local lows; • return into the range before a stronger upside move.
The key zone for me right now is $1.30–1.35.
Why it matters: • former support has turned into resistance; • a breakout would break the local downtrend structure; • price would fully absorb the last bearish impulse.
Plan: • A confirmed close above $1.35 — I will consider a long. • First target: $1.60. • Second target: around $2.00. • Invalidation: a return below the lower boundary of the range.
What the metrics show: • Open Interest is rising alongside price — a constructive signal. • Spot volume remains low. • 72% of retail traders and 63% of top traders are long. • Open Interest analysis suggests potential accumulation.
Conclusion: spot buying may be reasonable if you're prepared for volatility. For futures positions, I’m still waiting for confirmation via a clean breakout and hold above $1.35.