XRP trades above $1.32 after breaking falling channel, faces EMA resistance

XRP extended its recovery on Thursday, climbing above $1.32 as technical indicators and derivatives data pointed to easing selling pressure. The cryptocurrency broke above the upper edge of a falling channel pattern, which some market participants interpret as a potential signal of a broader rebound if buyers retain momentum. Recent derivatives market data revealed improved conditions for XRP following the wider cryptocurrency market’s recent downturn. CoinGlass reported that funding rates for XRP futures turned positive on October 30 and remained above zero on Thursday.

Source: CoinTurk News