XRP price slowly forms a rare pattern: is a rebound coming?
Ripple XRP
XRP retreated to $2.14 on Monday, a 26% decline from its highest level this month, meaning that it has moved into a bear market.
XRP’s drop happened as its social sentiment score and futures open interest continued falling. According to CoinGlass, the futures open interest dropped to $1.89 billion on Monday, down from the year-to-date high of over $4.29 billion.
Ripple’s daily volume has also dropped in the past few weeks as its momentum waned. Its 24-hour volume was over $10 billion, much lower than what it handled a few weeks ago.
