• XRP struggles to break the $3.10 level despite a 2.57% daily gain, keeping sellers in control.
• Collaboration with XRP Ledger lifts Linklogis stock 23%, raising hopes for broader adoption.
• Inverse Head-and-Shoulders formation signals momentum, but XRP needs a decisive breakout to confirm.

XRP is showing signs of activity in the market, though it continues to struggle with key resistance levels. At the time of writing, the XRP is trading at $3.02, marking a 1.27% gain in the past 24 hours. Its daily trading volume stands at $10.03 billion and a market capitalization of approximately $180.27 billion.

Linklogis Surges 23% After XRP Ledger Partnership

As shared by Whale Insider, Linklogis, a publicly listed supply chain financing firm, announced a partnership with the XRP Ledger. The development sent Linklogis’ stock soaring 23% within a day, fueling optimism that XRP could benefit from stronger adoption in global financial systems.

XRP Struggles to Break Key Resistance

Prominent crypto analyst BitGuru pointed out that XRP had recently formed an Inverse Head-and-Shoulders pattern, a setup that often signals bullish momentum. However, the token failed to build enough strength to confirm the breakout, leaving sellers in control at higher price levels.

In the meantime, the market keeps a close watch on the $3.10 level, which has acted as strong resistance during many attempts. Each rejection of the region has validated a broader downtrend pattern and suggests that XRP must break this hurdle decisively to spark a larger upside move.

Future sessions can be crucial for XRP as investors question whether the news of collaboration with Linklogis will sustain investor interest; otherwise, the token could remain stuck in its current range.

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XRP Derivatives Show Growing Strength

The XRP derivatives market shows mixed signals with fluctuating trading volumes. The latest data suggests trading volume decreased by -17.57% to $9.09B and open interest rose by 4.79% to $8.28B. That means fewer transactions are being made, but broader positions are being carried on, which suggests higher conviction on the part of investors.

The OI Weighted funding rate is currently at 0.0102%, showing a slight bullish bias. This suggests that more long positions are paying short positions. Since the funding rate remains moderate, it signals growing optimism about XRP’s price direction.

Also Read | XRP Bullish Flag Signals Potential Surge Toward $3.62