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XRP Price Prediction — Assessing if Altcoin Can Stay Above $2?
As the market remains volatile, a recent surge in open interest (OI) has sparked concerns about Ripple’s [XRP] potential to drop below the crucial level of $2. This development could have significant implications for investors and traders alike.
Data reveals that XRP’s Open Interest has risen by an astonishing 5.63%, indicating increased market risk due to the influence of leveraged positions. Historically, changes in open interest have led to significant price volatility, resulting in both upward and downward directions. This pattern suggests that the recent rise in OI could potentially trigger another large price movement soon.
While a sudden reversal is possible, XRP’s price chart displays a volatile market, with the current price oscillating around $2.50, marking critical internal sell-side and buy-side liquidity points. Liquidity sweeps often precede major moves, as observed when XRP dropped after an internal buy-side liquidity sweep at the $3.00 zone.
In light of this information, it appears that Ripple’s price may be poised for a decline due to the increased leverage in the market. The recent increase in OI has led to a higher probability of XRP dropping below $2.
Source: https://ambcrypto.com/xrp-price-prediction-assessing-if-ripple-can-stay-above-2/
