Ripple Prime expands derivatives access as XRP struggles with subdued retail interest
- XRP delicately holds above $1.40 support as the broader crypto market remains cautious amid the Middle East war.
- Ripple Prime offers clients direct access to Coinbase derivatives, including XRP, BTC, ETH and SOL futures contracts.
- Retail interest in XRP is subdued, with futures Open Interest slipping to $2.33 billion.
Ripple (XRP) is trading sideways in a range, with support at $1.25 and resistance at $1.67 at the time of writing on Friday, as investors navigate growing uncertainty amid the war in the Middle East.
Ripple Prime supports Coinbase derivatives
Ripple, in collaboration with Nodal Clear, announced on Thursday that Ripple Prime clients now have access to the full suite of Coinbase Derivatives contracts. The offering includes highly liquid nano Bitcoin (BIT) and nano Ethereum (ET) futures, as well as institutional and nano-sized contracts for Solana (SOL) and XRP.
Trading is available 24/7 within a regulated environment and is executed via Coinbase Derivatives, Hidden Road Partners, and the Futures Commission Market (FCM).
Ripple Prime delivers multi-asset, technology-driven prime brokerage, clearing, and financing, according to Business Wire.
XRP faces retail interest decay
The persistent drawdown in XRP prices since the record high of $3.66 in July has driven retail investors to the sidelines, leading to a massive slump in futures Open Interest (OI), which averages $2.33 billion on Friday, down from $2.35 billion the previous day.
In contrast, the OI peaked at $10.94 billion in July, but the persistent selling in the derivatives market undermines retail interest. OI reflects the notional value of outstanding futures contracts.
Technical outlook: XRP holds key support
XRP is trading in a narrow range between $1.25 and $1.67, with immediate support at $1.40. The SuperTrend indicator on the daily chart caps the upside at $1.61, keeping the near-term bias moderately bearish despite the absence of aggressive downside follow-through.
At the same time, XRP remains well below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), which continue to slope lower and frame a dominant downtrend. The Moving Average Convergence Divergence (MACD) holds above its signal line, but green histogram bars contract amid a fading upside momentum.
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Initial resistance emerges at the 50-day EMA around $1.56, with a break above it required to open a move toward the upper end of the range around $1.67. The 100-day EMA at $1.77 highlights a medium-term target. On the downside, immediate support lies at the recent reaction floor near $1.40, ahead of Wednesday's low at $1.35. A decisive break of these levels would expose the October 10 support at $1.25.
Ripple FAQs
Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.
XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.
XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.
XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.
(The technical analysis of this story was written with the help of an AI tool.)
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
