🚨 $XRP Struggles at $2.73 as $1B Vanishes from Futures Market 💥📉
📊 Futures OI Drops $1 Billion
In just 48 hours, XRP Futures Open Interest plunged by $1 billion, falling from $2.9 billion. This sharp decline followed a failed breakout attempt, fueling bearish sentiment as traders pulled capital. The inability to breach the $2.73 resistance has amplified skepticism about XRP's short-term outlook.
⚠️ Investor Uncertainty Grows
On-chain data reveals a troubling trend: XRP’s DAA divergence turned sharply negative, indicating a lack of network engagement during recent price surges. This suggests price movements were driven by speculation rather than organic adoption. Without increased on-chain activity, sustaining momentum seems unlikely.
📈 Key Levels to Watch
XRP remains trapped below the $2.73 resistance while holding above the crucial $2.00 support. RSI hovers near 50.98, signaling indecision, while trading volume and OBV remain muted, reflecting low investor confidence.
🚀 Breakout or Breakdown?
A breakout above $2.73 could trigger a rally toward XRP's all-time high of $3.31. Conversely, a fall below $2.00 risks deeper bearish pressure. For now, XRP is stuck in consolidation, awaiting a decisive catalyst to spark its next big move.