XRP Correction Pauses: Ripple Price Forecast Points to Limited Recovery Potential

• $1.00 remains the critical support level beneath XRP, though prospects for a recovery are fading.
• $189 million marks a three-month low for Binance XRP futures Open Interest.
• Weekly SuperTrend support remains intact for XRP, giving bulls limited near-term respite within an otherwise bearish technical picture.

$1.06 is Ripple (XRP)'s approximate trading price on Wednesday. Its correction has paused, mirroring the calm following turbulence across the broader cryptocurrency market. A firm support zone for the remittance token extends from $0.94 to the prevailing market price. Structural resistance, including major moving averages, continues to constrain its upside.

$189M: Binance XRP Open Interest Hits Three-Month Low

$189 million is the value of XRP futures Open Interest (OI) on Binance on Wednesday, according to a report published on CryptoQuant. That is the lowest reading in three months. Risk appetite has weakened, with OI on the same exchange having averaged $182 million in August.

From $229 million on 2 August, XRP open interest on Bybit increased to $255 million. Meanwhile, XRP derivatives volumes on OKX stood at approximately $46 million as of 11 November.

With XRP priced near $1.06, combined open interest across Binance, Bybit and OKX has risen to around $490 million. Derivatives exposure therefore differs considerably across the leading exchanges. Binance has returned to levels seen in early August, whereas Bybit retains a comparatively larger outstanding position.

At the broader market level, muted futures OI is consistent with the Fear & Greed Index. The gauge registered 29 on Wednesday, remaining in Fear territory and easing from 32 a day earlier. By comparison, last month's average was 69, in Greed territory, a reading that runs counter to diminishing investor appetite.

$1.06: XRP Defends Key Support in Bearish Technical Setup

At $1.06, XRP remains firmly in a bearish phase. The price is substantially below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), which are grouped between roughly $1.28 and $1.35. An overhead SuperTrend reading of $1.22 adds to the prevailing downside bias. Meanwhile, the Relative Strength Index (RSI), at about 24, is moving deeper into oversold territory, and the Moving Average Convergence Divergence (MACD) remains below zero. Together, these indicators point to sustained, though stretched, bearish momentum.

Near $1.22, the SuperTrend barrier provides the first resistance. Beyond it lies a tightly grouped set of EMAs, starting with the 50-day EMA at $1.28. A nearby descending resistance trendline reference at $1.29 adds further selling pressure. The next hurdles are the 100-day EMA at $1.30 and the longer-term 200-day EMA at $1.35. Reclaiming these levels would be necessary to moderate the current bearish bias. With no clearly established support below spot, the pair remains exposed to further declines until new demand appears.

On the weekly chart, the bearish picture also persists. The 50-week, 100-week and 200-week EMAs, at $1.46, $1.55 and $1.37 respectively, stand well above spot and form a broad resistance ceiling. Additional overhead supply sits around $1.44, where a long-standing descending trendline extends from previous cycle highs.

Around $0.94, the weekly SuperTrend line provides initial technical support and the first significant demand zone should sellers strengthen their grip. A recovery would initially face the 200-week EMA near $1.37, followed by descending trendline resistance around $1.44. A sustained break through those barriers would bring the higher EMA cluster into focus: the 50-week EMA at $1.46, then the 100-week EMA near $1.55. Both represent further resistance likely to restrict gains on initial tests.

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