XRP Price News: RSI Flashes Sell as XRP Hits Key Support at $1.90

XRP (XRP) has gone down by 7% in the past 7 days after President Donald Trump threatened eight European countries with a 10% tariff if they did not support its bid for Greenland.

The markets were once again rattled by the geopolitical turmoil, and sentiment shifted from nearing “greed” to the closest they have been to “fear” territory since the year started.

Despite the news, Ripple has kept making progress with its roadmap through acquisitions, product launches, and new platforms.

The market value of the network’s native stablecoin, Ripple USD (RLUSD), has reached $1.3 billion already, up from an initial market cap of $50 million just a year ago.

Moreover, the latest drafts of supportive pieces of legislation, like the Clarity Act, will give XRP the same treatment as Bitcoin (BTC), which means a credibility boost in the eyes of institutional investors.

XRP Price News: XRP ETF Assets Reach $1.5 Billion

On to the latest XRP price news, Wall Street’s appetite for this token has kept growing. Total assets held by exchange-traded funds (ETFs) linked to XRP have jumped above $1.5 billion even though the price of the asset has been declining.

SoSoValue’s data shows that XRP has only seen negative net inflows once since the data analytics firm started to track these public funds. This is a remarkable trend that showcases strong buying interest in the token by investors in the United States.

XRP Open Interest (OI) – Source: CoinGlass

Meanwhile, traders’ interest in XRP futures has been steadily recovering. Data from CoinGlass shows that open interest (OI) has increased from a low of 1.40 billion XRP in November to 1.76 billion at the time of writing.

However, this figure is still heavily depressed compared to the 3.1 billion XRP peak seen in July last year, back when the token hit $3.55.

XRP Needs to Stay Above $1.90 to Keep Rallying

The daily chart shows that XRP has been going down for seven days in a row. As a result, it is currently hitting a key support at $1.90.

XRP/USD Daily Chart (Bitstamp) – Source: TradingView

This level has acted as both a floor and a ceiling multiple times in the past, confirming its technical relevance. Meanwhile, the 200-day exponential moving average (EMA) has also acted as a strong sell wall on four occasions in the past few months, the last one being on January 6.

The Relative Strength Index (RSI) is on a clear downtrend and has moved below the 14-day moving average. This is commonly interpreted as a sell signal and reflects that negative momentum is accelerating.

For now, the baseline scenario for XRP is bearish, considering that both macro and technical factors are favoring the continuation of the current downtrend.

A break below the $1.90 mark could send XRP back to $1.75. That said, we also saw that the price recovered right after tagging a former trend line resistance from above.

This trend line formed a previous falling wedge that XRP broke out of earlier this year. This could be a normal retest of a former supply zone that could confirm a bullish bias.

This increases the importance of the $1.90 area. If the price bounces off this mark, we could see the January rally resume and push XRP back to $2.30 at least in the near term.