XRP has struggled under key resistance levels for over a month, leaving investors frustrated as there's been no upward movement. This has led to a lack of trader confidence.
Recently, Open Interest in XRP Futures dropped by $1 billion in 24 hours. Just the day before, it was at $2.9 billion, fueled by hopes for a price rally. The sudden drop signals growing bearish sentiment among traders disappointed by the stalled momentum.
The Price DAA Divergence shows a sell signal, reflecting declining participation and stagnant pricing. With selling pressures, XRP risks undermining investor confidence and pushing prices further down.
While XRP's price has fallen by 20%, it still holds above the $2.00 support mark. Failure to break the $2.73 resistance may lead to prolonged stagnation, but a broader bullish market could push XRP past $2.73, aiming for an all-time high, opening the door to a renewed uptrend.
