XRP price analysis showed a weaker daily setup as the token traded near $1.44 on Tuesday, May 12. Trading volume fell sharply, while derivatives data shows a small rise in open interest despite lower futures activity across the market at press time.
As of press time, XRP trades at $1.44 after a 0.92% drop in the past 24 hours. CoinMarketCap data shows trading volume at $2.5 billion, down 33.71%, while the token stayed up 2.19% over the last seven days.
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XRP Macro Chart Shows Compression, Analyst Says
Analyst Egrag Crypto highlighted in a post on X that XRP’s two-month macro chart shows a large compression structure. He stated that moving averages and EMAs are lagging indicators while price action is the leading indicator of the market setup.
The analyst argued that high targets require volatility first. He said XRP has historically had significant growth after major corrections and emotional “shakeouts.” His macro levels included Fib 1.618 at $9, Fib 2 at $17, and extended Fib 2.272 at $26.
Egrag added that the $9 to $17 region could serve as an ignition zone prior to a bigger, euphoric stage. He also noted that $100 isn’t a complete move; it’s not a target for the next cycle.
Thus, XRP price analysis will pivot around its ability to break back above the 100-day EMA. Breaking above $1.49674 would level the next major chart level around the 200-day EMA at $1.71540.
XRP Funding Rate Stays Low as Futures Volume Drops
CoinGlass data shows a mixed market activity. The futures trading volume fell by 32.62% to $3.71 billion, but open interest increased by 1.08% to $2.98 billion. The XRP OI-weighted funding rate is at 0.0027%. This shows traders kept positions open even as overall futures activity weakened.
XRP Price Analysis Shows EMA Resistance Ahead
According to TradingView data, XRP is trading above its shorter moving averages on the daily chart. XRP price analysis showed that the price was above both the 20-day EMA at $1.41856 and the 50-day EMA at $1.41465 during the session.
Longer-term EMA levels were still above the current price. The 100-day EMA was at $1.49674, and the 200-day EMA was at $1.71540, both of which were also present as resistance levels on the TradingView chart.
The Relative Strength Index (RSI) data shows that momentum stayed in a moderate range. The 14-day RSI is 56.75, whereas the RSI moving average is 52.35. The reading remained above 50 but below the 70 overbought level.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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