XRP remains near $1.36 as buyers defend support, while resistance at $1.39 controls the next potential recovery attempt.

Neutral funding indicates that derivatives positioning has cooled, leaving leverage balanced after the recent breakout and the prolonged retracement that followed it. Funding rates on perpetual futures — periodic payments between long and short traders that reflect the skew of leveraged positioning — sitting near zero typically signal that neither side is overcrowded heading into the next directional resolution.

The current retest remains unresolved, with $1.35 support and descending resistance defining the immediate technical range. XRP is caught between these two levels as traders monitor whether the retest completes before the end of the week, as noted by analyst CW.

Retest Develops Beneath Descending Resistance

The recent structure follows a powerful breakout from prolonged weakness. Price climbed from roughly $0.90–$1.00 toward $1.60, before entering a controlled retracement in the $1.65–$1.70 area. The move caps a period in which XRP — the token used across the XRP Ledger, whose payments technology is closely associated with Ripple — has repeatedly drawn trader attention around structural breakout levels.

CW stated that the retest should conclude before the week closes. The accompanying chart shows price compressing beneath a descending short-term trendline, keeping the immediate focus on either a possible breakout or a renewed rejection.

The broader formation had previously contained price beneath declining resistance, with lower highs dominating the structure across several months. The breakout temporarily disrupted that sequence and produced a stronger short-term advance. The subsequent pullback has remained measured compared with the breakout itself, and price continues to trade above the area where the advance began. That keeps the retest relevant while sellers remain active near descending resistance.

$1.36 Support Becomes the Immediate Battleground

As of writing, price stands at $1.36, keeping the market near immediate support. The $1.36–$1.37 region has attracted repeated buying and selling activity, and price movement around this zone should determine the next short-term direction.

If price stays above $1.37, there is room for a further extension to $1.38–$1.39. Clearing $1.39 would improve the current short-term structure, and the next resistance area would then sit closer to $1.50.

Failure to defend $1.35 would weaken the current consolidation pattern. Sellers could then target lower sections of the recent breakout structure, placing renewed pressure on buyers defending the broader recovery.

Recent trading activity around these levels has been substantial. Estimated 24-hour volume stands around $2.03 billion, with a market capitalization of approximately $85.59 billion and a circulating supply of 62.74 billion tokens, according to CoinMarketCap.

Funding Rate Shows Leverage Has Reset

The OI-weighted funding chart presents a different picture from the price structure. Funding has generally remained close to neutral over the latest period, with positive and negative readings appearing without sustained extreme positioning.

During the earlier rally, funding remained mostly positive as price accelerated higher — a combination reflecting stronger demand for leveraged long exposure. The subsequent reversal produced a sharp negative funding spike before conditions normalized.

The later decline toward lower levels occurred alongside relatively subdued funding. Short-lived negative readings appeared during several downward moves, but those readings did not remain extreme for extended periods.

Current funding conditions therefore point to a market with relatively balanced derivatives positioning. A renewed breakout could bring stronger long positioning and rising funding, while a breakdown below support could increase short exposure across the market.

The immediate technical range remains clearly defined by $1.35 and $1.39. Holding support would preserve the current retest structure, and a break of either boundary should provide clearer evidence of the next directional move.