XRP Signals Negative Funding: Derivatives Data

What to Know:

• Ethereum and XRP showed mixed performance this week, while Cardano and Binance Coin faced significant declines.
• Broader market sentiment remains cautious as key support levels are tested across multiple altcoins.
• XRP’s ability to maintain its current bounce could signal potential for liquidity shifts and market bottoming.

This week’s crypto market action saw a mix of recovery attempts and continued bearish pressure across several prominent altcoins. Ethereum is testing critical support, while XRP is attempting a bounce within a larger downtrend. Cardano and Binance Coin are navigating significant losses as they seek to establish new support levels. Here’s a closer look at the technical landscape for these cryptocurrencies.

Ethereum (ETH) Faces Resistance at $2,400

Ethereum closed the week with a modest 2% gain, but the overall trend remains bearish. The $1,800 level is now a critical support. Failure to hold above this point could negate gains made since early 2025. Resistance is strong around $2,400, a level that will likely determine the next directional move. A rejection at $2,400 could lead to further declines, while a breakout could sustain a rally toward $3,000.

Ripple (XRP) Attempts a Bounce Amid Downtrend

XRP experienced a 6% gain this week following a sharp decline. However, the broader downtrend remains intact, suggesting this bounce may be short-lived. Key support levels lie at $1.4, which is currently being tested, and $1, which could be the next target if bearish momentum persists. The accelerated correction in 2026 indicates strong selling pressure, potentially leading to a quicker identification of a market bottom around the $1 mark.

Cardano (ADA) Struggles to Find Support

Cardano has struggled significantly, with a 38% loss over the past 30 days. This week saw a slight 4% gain, with the price bouncing off the $0.24 support level. The ideal scenario for Cardano would be forming a bottom around these levels, as it has in the past. Failure to do so could result in new lows not seen since 2020. Reclaiming a price above $0.30 is crucial for bulls to regain control. The outlook remains grim, especially if Bitcoin and Ethereum continue to underperform, potentially dragging ADA below $0.20.

Binance Coin (BNB) Tests Key Support at $580

BNB has reached the $580 support level, a long-anticipated target for sellers. The critical question is whether this level will hold. A bounce would be a welcome sign after months of bearish price action. However, if $580 fails to hold, the next key support levels are at $500 and $380. Since its all-time high of approximately $1,375, BNB has lost nearly 60% of its valuation, suggesting the bear market may continue until a 70% decline is reached.

Hyperliquid (HYPE) Faces Bearish Reversal

HYPE closed the week in the red with an 11% loss, failing to break above $36 and establish it as a key support level. This price action suggests a lower high, which is a bearish signal. Buyers are currently defending the $30 support, and holding this level is crucial for another attempt at making new highs. However, the rally from $20 appears to have peaked, and a bearish reversal is likely if $30 is lost again.

Overall, the cryptocurrency market presents a mixed picture this week, with some altcoins attempting recoveries while others face continued bearish pressure. Key support and resistance levels will be critical in determining the next directional moves. Investors should remain cautious and monitor these levels closely.

Related: XRP Consolidates: Crypto Signals Mixed

Source: Original article