Rebound

XRP is under pressure against Bitcoin after recently confirming a death cross on its daily chart, a bearish technical signal where the 50-day moving average crosses below the 200-day moving average.

XRP has struggled to gain momentum against Bitcoin, failing to match the latter’s current climb, which sent the largest cryptocurrency by market value to new all-time highs of about $112,000 on May 22. Since May 14, XRP has marked 10 out of the last 12 days in losses when paired against BTC.

XRP remains in consolidation between $2.65 and $2 in its USD pairing, with neither bulls nor bears gaining an edge, contributing to its lull against Bitcoin on the short-term charts.

XRP/BTC Daily Chart, Courtesy: TradingView

While the short-term downtrend is keeping traders on edge, a few technical indicators may hint at reversal signals.

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The Relative Strength Index (RSI) on the daily XRP/BTC chart is now approaching oversold territory (typically below the 30 level), suggesting that selling pressure could be exhausting, and a rebound may be imminent.

Also, while the daily chart shows weakness, the weekly XRP/BTC chart has formed a golden cross, a bullish counterpart to the death cross, offering bulls hope in the long term. This occurs when the 50-week moving average crosses above the 200-week moving average, often viewed as a signal of long-term strength and a potential trend reversal.

Crypto market in red

The broader crypto market fell in the early Sunday session, with $210 million in liquidation, according to CoinGlass data.

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The crypto market saw profit-taking over the weekend after a rally in the past week, with major coins dropping. Bitcoin’s price fell after reaching a new all-time high of nearly $112,000.

At the time of writing, XRP was down 2.09% in the last 24 hours to $2.3 and up 4.31% weekly. Bitcoin steadied near $107,000 after an intraday drop to lows of $106,750, trading down 1.03% in the last 24 hours to $107,597.

Market sentiment remains cautious with investors assessing macroeconomic and technical indicators to decide the next move.

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Cardano open interest explodes as traders bet big

According to CoinGlass data, Cardano open interest has spiked by a massive 26.42% as traders committed 1.2 billion ADA valued at $958.11 million per current futures outlook.

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This development suggests that Cardano investors are anticipating further positive movement, possibly toward the psychological $1 price mark. Since early March 2025, ADA has not reclaimed that price level despite several attempts.

With broader market dynamics hinting at a market rally, Cardano could push for the elusive $1 price. To attain this, it has to confront and break the $0.95 ceiling, which is a critical resistance for Cardano.

As of press time, ADA exchanges at $0.8002, representing a 5.78% increase in the last 24 hours. The community remains bullish as investors have intensified a push for the next level, as trading volume spiked by 69.02% to $1.29 billion.

Cardano might soon record breakouts above its key resistance if market participants sustain the ongoing momentum in this bullish rally.

Can ADA push through $1 barrier?

Interestingly, most traders confident of a possible rebound to the $1 level are on the Bitget and Binance exchanges. Bitget recorded 264.30 million ADA in open interest, while Binance registered 247.54 million ADA in open interest, valued at $212.02 million and $198.65 million, respectively.

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These traders might be eyeing further growth that could increase profit-taking. As reported by U.Today, Cardano whales snapped up about 80 million ADA just before the current spike. The move is now seen as anticipatory of the ongoing bullish breakout.

Now that ADA has climbed to $0.80, the next battle is finding stability at this level. With Cardano’s Bollinger Bands signaling potential spikes to higher levels, investors remain keen to see how the price unfolds.

XRP Drops Behind Bitcoin in Death Cross Move, but Rebound Ahead?

Crypto market in red

1,200,000,000 Cardano Hit in Open Interest as Price Eyes Rebound to $1

Cardano open interest explodes as traders bet big

Can ADA push through $1 barrier?