XRP (CRYPTO: XRP) is holding steady around $3 on Monday, with technical analysis showing a significant move may be imminent.
XRP is pressing against both the apex of a symmetrical triangle and the $3.08 Fibonacci 0.382 retracement level.
XRP Price Dynamics (Source: TradingView)
The daily chart shows XRP price compressing inside a multi-month symmetrical triangle.
The upper descending trendline has capped rallies since mid-August, while an ascending base from June has held as support.
XRP price action has now funneled into a decisive zone near $3.
A clean break above $3.08 would invalidate the lower-high sequence and open upside toward $3.20 and $3.30.
Failure to hold the ascending floor risks a swift retreat to $2.65, where the 200-day EMA aligns with horizontal support.
XRP Derivative Analysis (Source: Coinglass)
Open interest sits at $8.95 billion, near yearly highs, indicating strong positioning.
Options activity has spiked, with volume up 45% and open interest doubling, showing traders are bracing for volatility expansion.
Binance ratios show divergence: retail accounts lean heavily long, with over 3 longs per short, while position-weighted ratios are closer to 2.7.
This suggests smaller traders are more aggressive while larger accounts remain cautious.
XRP Netflows (Source: Coinglass)
After nearly $300 million in outflows, Oct. 6 saw $15.8 million of inflows into spot markets.
This marks a potential shift in sentiment, adding support to the bullish case if technical resistance breaks.
Historically, positive net inflows have coincided with XRP price extensions, particularly near chart breakout points.
XRP's next move hinges on the battle between the $3.08 Fibonacci barrier and triangle resistance.
A decisive close above $3.08 with volume could fuel a run toward $3.30–$3.46.
Rejection would shift focus back to $2.85 and $2.65 support levels.
With derivatives positioned and spot inflows improving, traders are preparing for heightened volatility as the pattern nears resolution.
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