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Summary ⚈ XRP shorts hit a 2-week low as the token fails to breach $2.20. ⚈ XRP’s RSI is 38, and recent Ripple token unlocks add selling pressure. ⚈ No clear bearish catalyst exists, but bullish sentiment grows amid Ripple-SEC case progress. The ratio of newly-opened XRP shorts compared to long positions reached a 2-week low on May 5, as the token’s price failed to breach resistance at $2.20. To be more precise, 55.07% of positions opened in the past 12 hours have been longs, and 44.93% have been XRP shorts, per data retrieved by Finbold from market intelligence platform CoinGlass . XRP long-short ratio chart. Source: CoinGlass At press time, the price of XRP had fallen to $2.15, marking a 1.67% decline on the daily chart. Prices briefly touched the $2.14 mark on two occasions, but quickly bounced off, demonstrating a strong degree of demand at those levels. XRP price 1-day chart. Source: Finbold Is the reduction in XRP shorts a bullish signal or a fa...

At press time on April 10, some 2.74 billion XRP were held on crypto exchanges, according to data retrieved by Finbold from market intelligence platform CryptoQuant .  This figure represents a 1-month low in the readily available XRP supply, which stood at 2.82 billion back on March 10. XRP exchange reserves 1-month chart. Source: CryptoQuant Exchange supply tends to have an inverse correlation with prices. The less tokens held on exchanges, the smaller the selling pressure. XRP was trading at a price of $2 at the time of writing, having reclaimed a crucial level of support in the wake of Donald Trump’s tariff pause, which caused a rally across financial markets XRP price 1-day chart. Source: Finbold The present constriction in XRP supply has set the stage for a large price move — but will it materialize? Why XRP will more likely than not trade in tandem with the wider market First things first — it’s important to keep the bullish catalysts that are...

  From a broader perspective of the Polygon market, the price has been in a general uptrend since it found a significant support level at $0.696 on the 22nd of September. Along the line, selling pressure has made the trend experience some price retracement , however, from each price retracement , buyers were able to secure new higher support and new higher resistance. Polygon Market Price Statistic: MATIC/USD price now: $0.88 MATIC/USD market cap: $7,823,319,429 MATIC/USD circulating supply: 8.73Billion MATIC/USD total supply: 10,000,000,000 MATIC/USD coin market ranking: #11 Key Levels Resistance: $0.900, $0.950, $1.000  Support: $0.8250, $0.8000, $0.761 Polygon Market Price Analysis: The Indicators’ Point of View The $0.900 price level has been a major resistance level that Polygon needs to break if it must establish its bullish trend. MATICUSD had fallen from above the $0.900 price level (precisely at $0.943) on the 12th of September. The price dippe...