XRP broke above $1.46 on Monday, extending a recovery from April lows near $1.10. The move came as open interest on Binance, OKX, and Bybit jumped by a combined $36.9 million on May 11 alone, signaling fresh money entering the market. But the rally faces stiff resistance in the $1.40-$1.50 zone — a region that has rejected upside attempts since March.
Open Interest Jumps While Spot CVD Slips
Data from Binance shows XRP open interest rising to roughly 232 million contracts as of May 11, up from about 207 million on April 30. That $25 million increase over 11 days was joined by smaller bumps on OKX ($10.4 million) and Bybit ($8.5 million). Combined, the three exchanges added $36.9 million in open interest on May 11 alone.
The perpetual CVD (cumulative volume delta) on Binance dropped to approximately -$434 million. All centralized exchange estimated spot CVD also declined to roughly $575 million. That divergence — rising open interest with falling CVD — hints that much of the new positioning is tilted bearish or hedging, rather than outright buying pressure.
Technicals Show Higher Lows but Still Below Key Averages
XRP traded around $1.44 after consolidating above support from February lows near $1.10. Buyers reclaimed the 50-day moving average, a short-term bullish signal. The coin is printing higher lows from the April bottom, suggesting momentum is building.
Yet XRP still trades below both the 100-day and 200-day moving averages. Trading volume remains far below the panic spikes seen in February, which means the current move lacks the conviction of a full-blown breakout. The $1.40-$1.50 range has repeatedly rejected upside attempts since March, making it a key battleground.
What Comes After $1.50
If buyers can reclaim and hold above $1.50, the next upside target sits between $1.65 and $1.70. That zone has not been tested since March. For now, the price action is positive but cautious — higher lows and rising open interest are encouraging, but the CVD data and volume levels suggest the rally needs stronger spot demand to sustain itself.
