- XRP struggles below $2.73 resistance, with $1 billion exiting XRP Futures in 48 hours.
- Investor sentiment turns bearish, with a significant drop in Futures Open Interest.
- XRP holds above $2.00 support but faces uncertainty without renewed buying volume.
Ripple (XRP) has been stuck in a consolidation phase for over a month. The token hovers below key resistance levels, with no signs of breaking out. This lack of movement is frustrating traders and eroding market confidence. Recent data paints a concerning picture. Over the past 48 hours, $1 billion has vanished from XRP Futures Open Interest.
XRP Futures OI Drops by $1 Billion
In just two days, XRP’s Futures Open Interest fell by $1 billion. The OI dropped from $2.9 billion to $1.9 billion after a failed breakout attempt. The sudden withdrawal of capital reveals rising bearish sentiment. Traders are losing faith in XRP’s short-term potential. This decline in investor interest has left the market uncertain about what’s next for XRP.
The inability to break above resistance levels has left XRP’s price stagnant. With fewer investors entering, sustaining any upward momentum becomes more challenging. The failed rally has sparked doubt, leaving the market divided over the next move.
Investor Uncertainty and Market Sentiment
XRP’s price movements seem disconnected from network activity. The XRP Price DAA Divergence chart highlights a negative divergence. Network engagement did not match the price surge seen in late November. This suggests that the price increase was driven more by speculation than real growth.
As a result, concerns about XRP’s ability to maintain momentum are growing. Currently, XRP sits just above the $2.00 support level. This support has held strong despite recent market pressure. However, the lack of strong buying volume limits the potential for a breakout. The RSI is hovering at 50.98, reflecting a neutral market stance with no clear direction.
OBV trends show weak capital inflows, indicating low investor interest. A break above $2.73 could trigger a rally toward XRP’s all-time high of $3.31. But if the $2.00 support level breaks, a deeper downturn may follow. Until the market sees a clear catalyst, XRP remains locked in a cautious holding pattern.
The post Ripple’s XRP Struggles to Break $2.73 as $1 Billion Exits the Futures Market appeared first on Crypto News Land.
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