XRP’s price has decreased by 4.5% over the past day, underperforming compared to other MAJOR cryptocurrencies. For the first time since June 2024, it has closed three bearish weekly candles, raising concerns of a potential fall to the psychological level of 2 USD.
Open interest in XRP has plummeted by over 54% in three weeks, indicating declining market confidence. Additionally, trading volume has slowed due to the holiday season, further contributing to the bearish sentiment surrounding XRP.
Technical analysis suggests XRP might retreat to a liquidity zone between 1.80 and 1.95 USD. With uncertainty in the market, traders are advised to approach XRP investments cautiously as conditions remain volatile.