-
XRP Open Interest climbs as traders switch risk; Bitcoin and Solana Futures cool.
-
XRP is at $3 support, while $3.06 is the upper limit; a break will set up the next short-term leg.
-
Bitcoin stalls at $116,000; Solana tests support of $232 as flows shift to XRP.
XRP gained ground this week, as traders increased leveraged bets and Bitcoin and Solana contracts lost steam. Glassnode data revealed that XRP perpetual interest was rising, even as positions in BTC contracts and SOL contracts declined. This is a sign of traders rotating exposure to assets still showing strength.
The divergence shows that Bitcoin held near its ceiling while Solana slipped. XRP, however, attracted inflows to futures books. This marks a rotation in speculative flows back into Ripple’s token, while peers pause.
Related to: Analyst Predicts 750% Breakout of XRP to $27 as Solana Eyes $1,000 Milestone
XRP at $3.06 with a $3.06 cap on upside
As of the time of publication, XRP is trading at $3.02, a modest drop of 0.36%. The token is now in a narrow range, between $3.00 resistance and $3.06 support. Traders have repeatedly tested the ends of this channel and left price action in consolidation. A decisive break may determine the next short-term trend.
The $3.06 ceiling is continuing to cap the bullish momentum and repeated rejections are showing strong near-term opposition. On the downside, $3.00 remains a psychological support level, with risks of further declines to $2.97.
The daily volume dropped by more than 16 percent, raising concerns about the strength of the buyer. If momentum returns above the $3.06 mark, targets will extend to $3.12 – $3.15. A loss of $3.00 can trigger selling pressure towards $2.95.
Related toAnalyst Singles out XRP as a Rival to Bitcoin. Not in Price Though
Bitcoin at $116K ceiling
Bitcoin is proving resilient, as it has held steady at $115,912 despite a sharp rise towards $117,000. The resistance at $117K stopped the rally while $115.500 was a short-term floor. The asset is now trading in a consolidation area between these levels, indicating reduced speculative activity.
Volume data presented an interesting contrast. Profit-taking has slowed momentum near resistance despite a 21% increase in activity.
Traders are therefore cautious and wait for a breakout to confirm before increasing exposure. A move above $117K may open the door to $118,500 – $119,000 If you fall below $115,500, you could be looking at $115,000 or $114,800.
Solana Under $232 Pressure
Solana fell 1.43% in the last 24 hours to $234. Trading in a tight range, $232 is acting as immediate support while $238-240 is acting as resistance. The structure shows lower highs which suggests that sellers continue to dominate in the short term. The bearish pressure also limited the upside attempts despite a modest rise in trading volume.
If $232 breaks down, traders might look at $228-225 for the next support cluster. Regaining $240, on the other hand could trigger a recovery towards $245-250. Solana is therefore caught in a fight between long-term investors and short-term profit seekers.
Market Read for Traders
The rotation is evident; traders are reducing Bitcoin and Solana leverage, but adding XRP.
XRP is the most profitable short-term trade in the majors. With an open interest that is increasing and a price range between $3.00 and $3.6, XRP has the highest conviction.
