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3h ago

XRP Defends $2.40 as Open Interest Halves, 200-Day Barrier at $2.72 Caps Rebounds

Heavy deleveraging shifts focus to upcoming SEC ETF deadlines alongside Ripple’s Immunefi security test.

Xrp tests $2.40 base after 6% swing; eyes $2.65 breakout level

Overview

  • Buyers repeatedly held the $2.40–$2.42 zone during volatile trade, with rebounds fading near $2.53, according to CoinDesk.
  • Derivatives open interest dropped about 50% to roughly $4.22 billion, reflecting a sharp unwind in leveraged positions.
  • Spot trading volume rose roughly 40%, which coverage interprets as possible institutional re-entry rather than a confirmed trend.
  • Technical views highlight stiff resistance at the 200-day moving average near $2.72, with downside levels flagged at $2.33 and $2.25 and some analyses warning of a potential retest toward $2 if rejection persists.
  • A TradingView analysis cited by NewsBTC notes a resistance zone at $2.70–$2.7266 and warns of a pullback toward $2.5050 if a breakout fails, while traders also track Ripple’s $200,000 Immunefi XRPL security test from Oct. 27 to Nov. 24 and approaching SEC decisions on spot XRP ETFs.