Net entries to detect XRP tokens became positive on Thursday after days of exits, putting the token in focus after a record month for its native decentralized exchange (DEX).
More than $ 15 million in XRP flowed to centralized exchanges on Thursday led by deposits to Bybit and Kraken, as shown in the coinglase data. Punctual entries to exchanges can mark an intention to sell tokens in the open market, cushioning the possibilities of a rally.
Meanwhile, 8 -hour financing rates in XRP perpetual futures markets are at -0.0065% from Thursday morning, which implies a bias for short positions that benefit from price falls. In particular, XRP financing rates were more negative than ETH and BTC.
Negative financing rates mean that merchants who occupy short positions are willing to pay a small fee to those with long positions to keep the bassist bets open.
XRP below the averages of the key
XRP is quoted below several key mobile averages, with the exponential mobile (EMA) average of 10 days to $ 2.84 and EMA from 21 days to $ 2.88. Trade below these mobile averages suggests a short -term bearish perspective.
However, the single mobile average of 100 days (SMA) is just above $ 2, and the 200 -day SMA is $ 1.30, both below the current price, indicating a long -term upward trend. Mobile averages help identify trends softening price data, and period readings used above are popularly used by retail merchants.
Meanwhile, immediate resistance to $ 2.49, followed by the level of $ 2.60. A movement beyond these levels would relive the upward perspective, preparing the stage for a race to the $ 3 brand, which violated in January for the first time since 2018.
The 14 -day XRP relative resistance index (RSI), which measures the magnitude of price changes, was just over 36 in Asian hours, placing it in the neutral area. Traditionally, RSI values above 70 indicate overcompra conditions, while values below 30 suggest overall conditions. A RSI around 50 is considered neutral.
