- XRP surged to $1.61, overtaking BNB to become the fourth-largest cryptocurrency by market cap amid renewed retail buying.
- Technical indicators remain bullish, with potential to reach $1.78 if upward momentum continues.
XRP has surged to $1.61, marking its highest level since February 15, after a rally of more than 5% in the past 24 hours. The coin has overtaken Binance’s BNB to become the fourth-largest cryptocurrency by market cap, reflecting a surge in retail interest and positive market sentiment.
Retail Interest Drives XRP’s Rally
Renewed retail buying is fueling XRP’s impressive performance. According to CoinGlass, XRP’s futures Open Interest (OI) rose to $2.89 billion on Tuesday, up from $2.66 billion the day before. This increase signals growing risk appetite among retail investors, even as institutional exposure to XRP-related products declines.
Despite the retail surge, XRP investment products recorded an outflow of $4.13 million on Monday, following weekly outflows of around $30.3 million. Month-to-date, outflows total $133 million, bringing assets under management to $2.4 billion. Broader market conditions, including macroeconomic uncertainty and weak sentiment reflected in the Fear & Greed Index, have limited institutional demand.
Technical Outlook Points to Further Gains
From a technical perspective, XRP remains in a mildly bullish phase. On the 4-hour chart, momentum indicators are signaling strength: RSI is at 79, approaching overbought territory, while the MACD stays above its signal line.
XRP recently surpassed the 50-day EMA at $1.50 and tested the $1.61 FVG, establishing a solid support level. Short-term support is now expected at $1.50 and $1.40, with additional floors near $1.35 and $1.30. On the upside, if bulls maintain control and XRP closes above the February 15 high of $1.67, the token could push toward $1.78, its highest mark since January 31.
What This Means for Investors
XRP’s recent rally highlights growing retail confidence in the token, even amid reduced institutional activity. Traders looking for short-term gains may find opportunities as the coin tests key resistance levels, while long-term investors will need to monitor market conditions and technical signals for sustained growth.
With buying pressure building, XRP is proving to be a strong contender in the top 10 cryptocurrencies, potentially challenging higher resistance levels in the near term.
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