XRP has remained below a crucial resistance level for over a month, leaving investors disappointed as the altcoin struggles to gain bullish momentum. This ongoing consolidation has weakened traders’ confidence and led to lower participation and withdrawals from the market.
In the last 24 hours, open interest in XRP futures has plunged by $1 billion, having previously reached $2.9 billion on hopes of a recovery. The sudden decline reflects bearish sentiment and growing uncertainty over whether XRP can break its resistance at $2.73.
Adding to investor concerns, XRP’s macro dynamics are showing signs of weakness. The price-DAA divergence suggests a bearish trend with lower investor participation and stagnant price movements. This could lead to profit-taking and further price declines, potentially pushing XRP below its $2.00 support level.
Despite the pessimistic outlook, some analysts remain…
