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Ripple’s XRP Struggles to Break $2.73 as $1 Billion Exits the Futures Market
Ripple’s XRP has been stuck in a consolidation phase for over a month, with the token hovering below key resistance levels and failing to break out. This lack of momentum is causing frustration among traders and eroding market confidence.
Recent data suggests that investor sentiment has turned bearish, with a significant drop in Futures Open Interest. Over the past 48 hours, an astonishing $1 billion has exited the XRP Futures market, further exacerbating the negativity surrounding the token’s prospects.
Despite holding strong above the crucial $2.00 support level, XRP remains stuck in a cautious holding pattern until a clear catalyst emerges to drive the price upwards. The RSI has stabilized at 50.98, reflecting an uncertain market stance with no clear direction.
OBV trends indicate weak capital inflows, signifying low investor interest and enthusiasm for the token.
Source: cryptonewsland.com
