Overview
- XRP fell below the long‑tested $1.35 floor after Friday’s $14.16 billion Deribit options expiry and a Bitcoin drop to about $66,000, leaving the token near $1.31–$1.34.
- Traders are now watching $1.28, a Fibonacci support with heavy cost basis clustered there, because a clean break could expose thin support down toward roughly $1.11.
- Risk signals have split, with the Sharpe Ratio turning slightly positive near 0.0267 even as Binance open interest jumped about 15% and estimated leverage rose, a mix that often precedes sharper swings.
- Analysts say the chart stays vulnerable unless buyers reclaim key levels, with $1.80 flagged as the first milestone and a break above $2.20 needed to confirm a stronger trend.
- Broader headwinds persist as Bitcoin’s market share stays high, large holders have sold about $6 billion since mid‑2025, and roughly 60% of XRP sits above current cost basis while ETF assets have shrunk, limiting dip‑buying support.