From Coinpedia · By Anjali Belgaumkar
XRP broke through support at $1.10 and dropped to around $1.04, leaving it less than 5% above the key $1 level. The Relative Strength Index has sunk to 25.8, deep in oversold territory, but buyers have yet to turn the trend. If XRP loses $1, the next major support sits near $0.90. Prices can differ by exchange, with Binance support levels running about $0.10 lower. XRP is now in a 30% correction. Derivatives data adds to the caution, as traders on Binance remain positioned for gains, and past bottoms have usually formed when funding turned deeply negative. That happened this summer, when XRP fell to $0.70 before rebounding 53%. The 30-day funding sum currently stands at +0.18%. Spot XRP ETFs also had one of their worst days of the year, with net outflows of 9.37 million XRP, worth about $10.4 million.
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TagsCrypto news Ripple (XRP)