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Jakarta, Pintu News – The price of XRP (XRP) is currently hovering around $2.28 and is still struggling to recover after several failed attempts to break the resistance level above it. The market continues to show resistance to XRP around the major moving averages as well as the downtrend line.
Recent data from derivatives platforms and spot market flows indicate that both leverage and capital are exiting the market, reflecting hesitation on the part of buyers at current prices.

In the daily chart (9/11), XRP is trading below the 20, 50, 100, and 200-day EMAs, which are all concentrated between $2.43 to $2.70. These concentrations form heavy resistance zones and reflect a clear change in trend. Any recovery attempts in the past two weeks were rejected at the descending trend line originating from the price peak in September.
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Fibonacci retracement levels provide additional context. XRP failed to hold above the 0.382 and 0.5 retracement zones located around $2.48 and $2.71. The inability to hold these levels signals the sellers’ dominance remains strong despite the short-term bounce.
The Bollinger Bands show price moving along the lower band, which generally indicates trend continuation, not reversal. As long as XRP is unable to close above the middle band around $2.56, the momentum direction is still likely to be down.

In the 30-minute chart, XRP is moving inside a descending channel. The price briefly broke above the Supertrend indicator, but there is no confirmation of a trend change. The Supertrend reversal level is now at $2.25 and serves as initial intraday support.
For buyers, an important signal of momentum will be seen if the price manages to close cleanly above $2.29-$2.32, which is the upper limit of the descending channel. Before this breakout occurs, every rally is considered a technical response, not a sustained trend shift.
The RSI in the intraday chart is at around 54, indicating mild positive momentum, yet not strong enough to break out of the current channel pattern.
Data from Coinglass recorded a net outflow of $8.92 million on November 9, indicating that tokens were moving to exchanges instead of being accumulated.

Inflows to the exchange generally indicate a distribution phase. When these flows increase along with the failure to break important technical levels, the bearish narrative becomes stronger.
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In previous rallies, the inflow into the market was accompanied by a significant upward movement. The current pattern shows the opposite.
Data from the derivatives market supports the view that market participants’ confidence is weakening:
These figures show that capital is starting to move away from speculative positions. When prices are below key trend levels while open interest is declining, it means that market participants are likely to reduce exposure rather than prepare for potential upside.
Nevertheless, major traders’ positions on Binance and OKX still tend to be long, with a ratio above 2.0. This suggests that some aggressive market participants are still anticipating a price bounce. However, without the support of capital flows and trend reassertion, the market considers these positions as initial speculation, not confirmation of an upward direction.
XRP is trying to form a price bottom, but the trend control is still in the hands of sellers until there is confirmation otherwise.
Bullish scenario: A daily close above $2.43 will signal an early recovery. If the price manages to break $2.65, the EMA cluster will reverse to support, opening up an upside opportunity towards $2.80 and potentially $3.00.
Bearish scenario: A daily close below $2.16 will confirm a further drop with a demand zone target of $1.95. Continued outflows and declining open interest increase the probability of this scenario.
The market is waiting for a decisive move. As long as the price has not been able to reclaim the EMA above it, any upside attempt is likely to be stifled.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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