XRP Price Rebound Fails to Gain Momentum Amid Middle East Tensions

XRP has seen a minor rebound in its price, rising above the $1.23 mark despite ongoing Middle East tensions and muted demand for Exchange-Traded Funds (ETFs). However, this recovery appears to be limited by the cryptocurrency's position below key moving averages.

According to data from CoinGlass, XRP derivatives have seen a decline in Open Interest (OI), which has fallen to $2.65 billion from highs slightly above $3 billion in mid-May. This decrease suggests that investors are still hesitant to take on risk exposure in the cryptocurrency market.