invezz.com 
Ripple’s $XRP is trading around $1.17 on Thursday after losing more than 3% of its value in the last 24 hours.
The cross-border coin is holding below the upper boundary of its falling channel after facing rejection at higher levels.
Despite a modest stabilization, $XRP remains under pressure from broader technical resistance zones, and derivatives signals that point to cautious market sentiment.
Derivatives data signals bearish tilt for $XRP
Market positioning data suggests a mildly bearish outlook for $XRP.
CoinGlass metrics show that $XRP’s OI-weighted funding rate has turned negative at -0.0090%, indicating that short positions are paying longs, a signal often associated with bearish sentiment.
Furthermore, the long-to-short ratio has also tilted negative (0.9369), reinforcing the view that traders remain cautious or positioned for further downside.
Together, these indicators suggest that upside momentum for $XRP remains capped in the near term.
The futures Open Interest (OI) has also dropped to $2.7 billion after hitting $2.8 billion on Wednesday.
While the derivatives data remains bearish, institutional inflow could push $XRP’s price higher in the near term.
According to CoinGlass’s ETF page, spot $XRP ETF inflow was muted on Wednesday.
However, the funds pulled in 4.28 million $XRP and 2.38 million $XRP on Tuesday and Monday.
Ripple is expanding the adoption of its native $RLUSD stablecoin.
Earlier this week, Ripple invested in Flutterwave’s $3.2 billion Series E round to integrate $RLUSD stablecoin and $XRP Ledger technology into cross-border payments across Africa.
As part of the partnership, Flutterwave will integrate $RLUSD into its payments infrastructure, enabling businesses to settle certain international transactions using digital dollars.
In addition to this, the cross-chain infrastructure platform Squid integrated Ripple’s $RLUSD stablecoin.
The integration will enable users to swap into and out of $RLUSD across more than 100 blockchains and over 20,000 digital assets through a single transaction.
These latest developments, alongside the continued inflow into $XRP ETFs, could push $XRP’s price higher in the near to medium term.
$XRP technical outlook remains cautious
The $XRP/USD 4-hour chart remains bullish despite the recent price retracements.
From a technical perspective, $XRP continues to trade below its key moving averages, including the 50-day, 100-day, and 200-day EMAs at approximately $1.28, $1.37, and $1.58.
However, momentum indicators show early stabilization, with the Relative Strength Index (RSI) near 54 and MACD lines trending slightly higher.
However, these signals still reflect a corrective move within a broader downtrend.
If the bullish trend resumes today, immediate resistance sits between $1.24 and $1.30, aligning with the key moving averages.
A daily candle close above this zone could open room toward $1.37 and $1.58, while failure to reclaim it may expose $XRP to renewed downside pressure.
However, if the bearish trend persists, $XRP could extend its decline towards the first major support and the 4-hour TLQ level at $1.1258.
Failure to defend this level could see $XRP dip lower and retest the swing low of $1.05 created on June 6.
