Ripple Price Forecast: XRP decline pauses as scope for recovery remains narrow

• The crucial $1.00 support continues to underpin XRP, although the scope for a recovery is narrowing.
• A decline to $189 million takes Binance XRP futures open interest to a three-month low.
• Weekly SuperTrend support remains intact for XRP, giving bulls a measure of near-term respite even as the wider technical picture stays bearish.

At around $1.06 on Wednesday, Ripple (XRP) is pausing its correction as a sense of calm after the storm settles over the broader cryptocurrency market. Support for the remittance token extends from $0.94 to its current market price. Structural obstacles, notably the major moving averages, continue to constrain its upside.

XRP open interest on Binance drops to $189M

At $189 million on Wednesday, XRP futures open interest (OI) on Binance stands at its lowest in three months, according to a report published on CryptoQuant. Risk appetite has weakened, with OI on the same exchange having averaged $182 million in August.

Meanwhile, XRP open interest on Bybit rose from $229 million on August 2 to $255 million. At OKX, XRP derivatives volumes reached approximately $46 million as of November 11.

With XRP changing hands near $1.06, combined open interest across Binance, Bybit and OKX has risen to around $490 million. Derivatives exposure therefore remains uneven across the leading exchanges: Binance has returned to early-August levels, whereas Bybit retains a comparatively larger outstanding position.

The broader picture of muted futures OI is consistent with the Fear & Greed Index. On Wednesday, the gauge stood at 29 in Fear territory, slightly below the previous day's 32. That compares with an average of 69 in Greed territory last month, contrasting with the current decline in investor appetite.

Technical analysis: XRP maintains crucial support

At $1.06, XRP remains firmly in a bearish phase, trading substantially beneath the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), which are grouped between roughly $1.28 and $1.35. Overhead, the SuperTrend reading of $1.22 reinforces the prevailing downward bias. Momentum indicators also remain weak: the Relative Strength Index (RSI), at about 24, is moving deeper into oversold territory, while the Moving Average Convergence Divergence (MACD) stays negative. Together, they point to selling momentum that is persistent but stretched.

The first obstacle to a rebound is the SuperTrend level near $1.22. Beyond it lies a tight EMA cluster, beginning with the 50-day EMA at $1.28, while a nearby descending resistance trendline at $1.29 adds selling pressure. Further resistance comes from the 100-day EMA at $1.30 and the longer-term 200-day EMA at $1.35. These levels would have to be regained before the dominant bearish bias could ease. With no clearly established support beneath the spot price, the pair remains exposed to further declines until new demand materialises.

On the weekly chart, the bearish picture persists. The spot price remains well beneath the 50-week, 100-week and 200-week EMAs, at $1.46, $1.55 and $1.37 respectively, leaving a broad band of overhead resistance. A long-standing descending trendline drawn from earlier cycle highs adds further supply around $1.44.

Around $0.94, the weekly SuperTrend line provides initial technical support and the first significant demand zone should sellers tighten their grip. A rebound would initially face the 200-week EMA near $1.37, followed by the descending trendline around $1.44. A sustained move above both would bring the higher EMA cluster into view: the 50-week EMA at $1.46 and then the 100-week EMA near $1.55. These further resistance levels are likely to restrain gains when first tested.

(The technical analysis of this story was written with the help of an AI tool. Know more.)