XRP Price Forecast shows Ripple trading near $2.26 on Friday after four consecutive days of decline. The cross-border payment token has faced pressure due to bearish sentiment in the cryptocurrency market. Macro concerns, including the trade standoff between the US and China, have reduced investor confidence.
The sell-off on October 10 led to a large deleveraging event, with $611 million in XRP longs and $90 million in shorts liquidated. CoinGlass data shows retail demand remains low. Futures Open Interest (OI) dropped to $3.81 million on Friday from a peak of $10.94 billion in mid-July when XRP reached $3.66.
OI measures the value of outstanding futures contracts. A decline in OI indicates fewer buyers and increasing bearish pressure. XRP’s Spent Output Profit Ratio (SOPR) also fell to 1.04. SOPR measures whether tokens are sold at profit or loss. A value above 1.00 shows profit-taking, while below 1.00 indicates selling under loss.
The SOPR has been decreasing since early August when it peaked at 1.16. A reset toward 1.00 reduces selling pressure and may signal a future bullish reversal as weak hands exit.
XRP has declined for four days, reflecting negative market sentiment. The Moving Average Convergence Divergence (MACD) shows a continuous sell signal since October 9. The Relative Strength Index (RSI) dropped to 30 from highs of 57, indicating increasing bearish momentum.Key support areas include $2.22, $1.90, and $1.61. A reversal is possible if investors buy the dip. Potential resistance targets are $2.62 (200-day EMA) and $2.78 (50-day EMA and 100-day EMA confluence).
Ripple is a company that provides cross-border remittance services using blockchain technology. RippleNet is its payment network for financial institutions worldwide. The company uses XRP to facilitate faster, low-cost transactions.
XRP is the native token of XRPLedger. It enables instant value transfers on the network. Financial institutions use XRP to reduce costs and time for cross-border payments.
XRPLedger is a distributed ledger using XRP for transactions. It has anti-spam and DDOS protection features. The ledger operates via a peer-to-peer network maintained by the global XRPL community.
XRP uses the interledger protocol for cross-network payments. It connects multiple ledgers, removing intermediaries and centralization. The blockchain was created by Jed McCaleb, Arthur Britto, and David Schwartz. XRP is the native token of XRPLedger.
SOPR measures whether XRP tokens are sold at profit or loss. A value near 1.00 signals market reset and possible reduction in selling pressure.
Immediate support is at $2.22. Next demand zones are $1.90 and $1.61. These levels indicate where buyers may enter if prices drop further.