Categories: Crypto

XRP traders watch April as open interest jumps 15%



XRP traded near $1.34 on March 28, with a 24-hour trading volume of about $2.24 billion and a market cap near $82.04 billion. 

Summary

  • XRP held near $1.34 as traders watched April seasonality and a key $1.80 resistance level.
  • CryptoQuant data showed XRP returns still outpaced risk while Binance open interest climbed to 14.8%.
  • Analysts said XRP must reclaim $1.80, while weaker structure could expose next support near $1.00.

Meanwhile, the token was down almost 1% on the day and 7% over the past week, leaving price action stuck in a narrow range as traders look toward April.

XRP’s slow price action has drawn attention because April has often been one of its stronger months. Recent market data cited by CryptoRank showed that XRP’s average April return stands at 24.8%, keeping seasonal expectations in focus even as the token enters the new month under pressure.

That backdrop has kept traders focused on whether XRP can repeat part of its earlier seasonal pattern. At the same time, current market data still shows weakness, with XRP underperforming the broader crypto market over the last seven days.

Market commentary around XRP remains split as price holds near support but fails to regain higher resistance. One analyst said, “Until $1.80 is reclaimed, every bounce is just a lower high,” while another recent market view described $1.80 as a key level that could shift momentum if buyers recover it on a sustained move.

On the downside, bearish scenarios still point to deeper support zones if the current structure fails. Recent market analysis has placed the next major downside area in the $1.00 to $1.20 range if selling pressure continues and XRP cannot rebuild strength above nearby resistance.

Binance data shows mixed signals

CryptoQuant data from analyst Arab Chain showed some improvement in XRP’s risk-adjusted returns on Binance. The 30-day average return was around 0.00063, while the Sharpe Ratio stood near 0.0267, a sign that returns were still outpacing risk, though only by a moderate margin.

That steadier reading came as leverage started to build again in the derivatives market. Separate CryptoQuant data cited by recent market coverage showed Binance open interest rising 15%, while repeated long liquidation events on March 18, March 21, and March 26 showed that bullish positioning remained fragile during volatility.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.



Source link

Adam Forsyth

Share
Published by
Adam Forsyth

Recent Posts

Solana launches P-Token upgrade with 20x efficiency boost on mainnet

Solana has officially deployed its long-awaited P-Token upgrade on mainnet, delivering a major throughput increase…

15 minutes ago

First Hyperliquid ETF Launch: Day One Volume Hits $1.8M – Key Details

The U.S. crypto ETF landscape reached another milestone on Tuesday when the first-ever spot Hyperliquid…

22 minutes ago

Best gaming monitor deal: 27-inch LG UltraGear OLED now 40% off at Amazon

TL;DR: Amazon has the LG 27-inch UltraGear OLED gaming monitor (27GX704A-B) on sale for $477.99,…

28 minutes ago

Ink Ecosystem Gains Institutional Liquidity via New Maple Finance Partnership – Bitcoin News

Key TakeawaysMaple integrated with Ink on May 13, 2026, to expand institutional yield products to…

30 minutes ago

OpenAI and Anthropic target consulting market with $5.5B in new joint ventures

OpenAI and Anthropic have signed joint ventures with four of the biggest names in private…

1 hour ago

Inside the Race to Develop a Test for the Rare Andes Hantavirus

As passengers return to the US from the cruise that saw a rare hantavirus outbreak,…

2 hours ago