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XRP fails to break $2.73 as $1 Billion vanishes from Futures market
XRP’s prolonged consolidation below the critical $2.73 resistance level has led to a sharp decline in investor confidence, with over $1 billion in Futures Open Interest (OI) vanishing in just 48 hours.
As the token struggles to breach this key psychological barrier, traders have become increasingly skeptical about its near-term recovery prospects. The failure to break above the $2.73 mark has sparked widespread pessimism among investors, leading to a sudden and drastic reduction in OI to under $1.9 billion.
The recent downturn comes as a major blow to XRP bulls, who had been counting on a resurgence in price action to restore credibility and attract fresh capital into the market. Despite a brief rally that briefly fueled optimism earlier this month, the token has failed to make significant gains against its resistance levels.
XRP’s failure to break $2.73 poses significant concerns about its future trajectory.
Source: ambcrypto.com
