XRP Holds Ground At $2.34 As Derivatives Volume Surges

XRP trades at $2.34, maintaining support at $2.28 with resistance capped at $2.35.

Derivatives open interest rises 2.43% to $4.77B; volume surges 26.02% to $3.12B.

Breakout from long-term downtrend signals tightening range as traders eye technical breakout.

With the current price sitting at $2.34—an increase of 1.9% over 24 hours—XRP has continued to stay above $2.30. The token is moving in a small range between $2.28 as support and $2.35 as resistance.

Source: CoinMarketCap Volume Activity and Open Interest Strengthen Market Engagement

XRP’s derivatives open interest rose by 2.43%, reaching $4.77 billion. As the market grows, we might experience higher participation among investors and more unpredictable trading. The trading volume of 24-hour derivatives went up by 26.02%, reaching $3.12 billion.

This uptick reflects stronger engagement from futures traders, many of whom are reacting to XRP’s price testing technical boundaries. Market cap sentiment also remains balanced, with both buy and sell interest holding at $137.16 billion.

Chart Structure Breaks Downward Trend Channel

The recent price movement has broken out of a long-term downward trend channel visible since early February. The breakout was followed by a minor pullback, now forming a short-term descending triangle

This new formation shows a slight compression in price volatility, yet keeps the upper resistance zone in focus. If the price holds above the $2.28 support, short-term traders may continue positioning around the $2.35 level.

Technical Indicators Reflect Consolidation and Near-Term Caution

In the hourly chart, the Relative Strength Index (RSI) stands at 52.97, in a middle ground position below the overbought level of 59.01. The position is a sign of balanced market activity where buyers and sellers react cautiously to price movements.

Source: TradingView

MACD data shows a neutral setup, with the MACD line at 319.34M and signal line at 348.38M, suggesting limited momentum. The histogram is slightly negative at -29.03M, showing reduced immediate buying pressure. RSI remains steady, giving no clear overbought or oversold signal. Together, these indicators confirm that XRP is currently in a consolidation phase, as traders await a breakout or reversal near the resistance level.