XRP price action unstable amid rising leverage

XRP is currently testing the $1.33 support level, exhibiting weak price action and slowing momentum. Despite this, funding rates have spiked, indicating increased trader leverage and a potentially bullish positioning. However, repeated rejections near the $1.35-$1.36 resistance zone suggest sellers remain in control. A break below $1.33 could lead to a further decline towards $1.30, while a sustained move above the resistance is necessary to shift the momentum upwards. The current setup presents a classic tension between increasing speculative positioning and a lack of price follow-through, suggesting a volatile resolution is likely.