XRP Fails to Break Resistance Amid Positive Derivatives Data

The recent cryptocurrency market rally has come to an end, with most major cryptocurrencies experiencing a decline in value over the past 24 hours.

XRP is no exception, trading at $1.35 per coin and down by 0.5% since Tuesday. The price of XRP has been stuck below the $1.40 resistance level for some time now, leading to concerns that it may face further losses if it fails to break above this threshold.

However, there are signs that investor interest in XRP is on the rise. US-listed XRP spot Exchange-Traded Funds (ETFs) have seen a three-day bullish streak, attracting over $10 million in inflows on Tuesday alone. This growth in derivatives demand suggests that investor confidence in XRP may be increasing.

The XRP/USD 4-hour chart remains bearish, with the Relative Strength Index (RSI) at 51 indicating a consolidation phase rather than a sharp downside move. The Moving Average Convergence Divergence (MACD) is also modestly positive, hinting that any recovery attempts could struggle while the overhead resistance remains intact.