The post XRP Price Prediction: Bulls Defend $1.37 Support Despite Rising ETF Outflows appeared on BitcoinEthereumNews.com.

XRP consolidates at $1.3649 within descending channel (purple shaded area) as open interest drops 2.61% to $2.30 billion. $16.62M in ETF outflows on March 6 extend institutional selling, with cumulative flows holding at $1.24 billion. Volume collapses 15.92% to $3.05 billion while ascending wedge formation suggests potential breakout near apex. XRP price today trades near $1.3649, down 0.17% after consolidating within a descending channel that has guided price lower since mid-February. The move places buyers and sellers in equilibrium as ETF outflows extend and derivatives positioning contracts. Open Interest Drops 2.61% As ETF Outflows Hit $16.62M Open interest declined 2.61% to $2.30 billion while volume collapsed 15.92% to $3.05 billion, signaling reduced participation as price consolidates. The long/short ratio on Binance sits at 2.59 for accounts and 2.90 for top traders, showing leverage remains tilted bullish despite the flush. XRP spot ETFs recorded $16.62 million in net outflows on March 6, extending institutional selling after the previous day’s $6.15 million outflow. The two-day outflow streak totals $22.77 million, marking the first sustained institutional selling since late February. Cumulative flows hold at $1.24 billion, representing 1.18% of XRP’s market cap. Total liquidations hit $16.09K, with longs accounting for $15.05K. Options volume surged 56.01% to $1.21 million while options OI rose 1.04% to $56.13 million, reflecting increased hedging activity despite price consolidation. 2-Hour Chart Shows Descending Channel Consolidation The 2-hour chart shows XRP trapped in a descending channel (purple shaded area) since mid-February. The Supertrend at $1.4082 sits above current price, confirming bearish momentum. The Parabolic SAR at $1.3713 provides dynamic support just below current levels. Related: XRP Trades in Tight Range as Analysts Watch Key Levels Price is consolidating near the lower boundary of the channel, with the $1.35 to $1.37 zone acting as a critical support area. A break below…

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Filed under: News - @ March 7, 2026 2:23 pm