XRP eyes breakout above $1.42 as traders increase long exposure

Key takeaways

• XRP is approaching $1.40 after defending short-term support at $1.38.
• Futures open interest edged up to 2.24 billion XRP, indicating a modest increase in derivatives exposure.
• The open-interest-weighted funding rate remains positive at 0.01%, showing that bullish traders are paying to maintain long positions.
• A daily close above $1.42 could open the path toward $1.50 and $1.70.

Ripple’s XRP is down 1% on Tuesday, approaching the psychologically important $1.40 level after buyers defended support at $1.38.

The recovery follows an unsuccessful attempt to break through selling pressure around $1.50 last week. 

Holding above $1.40 would strengthen XRP’s short-term outlook, while another rejection could increase the risk of profit-taking and investor exhaustion.

Derivatives metrics remain broadly constructive, with futures open interest edging higher and funding rates staying positive. 

However, technical indicators show that bullish momentum has moderated, m...